No one likes to feel limited by the firm or model you’ve built your business at.
Unfortunately, it’s not uncommon for advisors to reach that point—particularly when they are employees of a much larger institution, like a bank brokerage.
Many young advisors start their careers at bank branches. They provide a solid training ground, a steady flow of referrals, and scaffolding and support to keep them on track.
While the built-in referral mechanism can help grow a client base, over time, the firm’s “guardrails” naturally limit those who have their sights set on creating something bigger and better—a business designed for the future, poised for growth and scale, with the freedom to serve clients’ unique needs.
Dustin Cali and Daniel Ventura invested just over a decade each as Private Client Advisors at J.P. Morgan. As young advisors with high ambitions, they watched as industry peers built successful independent businesses.
And that got them thinking, “Why not sooner, rather than later?”
So together they launched independent firm Praetego Private Wealth on the Sanctuary Wealth platform.
In this episode with Mindy Diamond, Dustin and Daniel offer a unique perspective for bank brokers, private bankers, and other young advisors who have the vision to build “something better,” including:
- The choice to partner up—and why they opted to launch an independent practice on the Sanctuary Wealth platform.
- Their transition process—and how they managed portability concerns inherent to the banking model.
- The choice to make the leap to independence early in their careers—and why they didn’t opt for a transition deal from another firm.
- The limitations they found in the bank brokerage model—and how they grow, scale, and serve their client base differently in independence.
- And they offer advice to advisors on the real potential to build and grow the business of their dreams—plus much more.
It’s an episode that will appeal to advisors who have thought, “We could be doing things better,” with relatable experiences from those who were once in that very place.
Download a transcript of this episode…
