Gallery: The Out-of-Pocket Costs of Going Independent

The independent model may be attractive for its high payout, but setting up your own office can be difficult—and costly.

“It’s like moving across the country, from New York to California,” says Philip Palaveev, owner and CEO of The Ensemble Practice LLC. “It’s going to cost you and it’s not going to be that much fun, but hopefully you’re going where you want to be.”

What’s the price tag for independence? It depends on geographic location, the size of the practice and what type of feel the advisor wants for the office. But here are some estimates.

Read the full article, The Hidden Costs of Independence