STRATEGIES & INSIGHT
THE BOLD AND THE INDEPENDENT Going solo – sans big firm – can be daunting for any financial planner. But still so many continue to dream. One advisor who overcame that fear now wants to help guide others through it Knowing when to walk away and having the courage to do so don’t necessarily happen in tandem. Financial advisor John Lindsey knows first-hand the hesitation and fear that fester when an advisor even contemplates going solo. But, Lindsey hasn’t looked back – at least not in regret – since he did two years ago. Now very much an independent, the advisor once a major player with a large international firm has launched a website – The Bold Advisor– offering encouragement and support to others, like him, who yearn to do the same. “I’m trying to be a voice for those who want to go independent and are afraid,” he says. “Or, who wanted to go independent and were being bullied by their current broker dealer or (are dealing with the) threat of being bullied by their current broker dealer.” Lindsey’s road to independence was by no means a smooth one – there was a lawsuit (which he won), tens of thousands of dollars poured into legal fees and one of the greatest tests endured on his moral character. With a high-profile reputation and solid book of business, Lindsey says he cut back his clients, fighting
hard for those he wanted to keep. He combatted accusations (which included stealing ‘corporate secrets’) that had the potential to soil his career. And, he guarded his jealously protected the composure necessary to come through to the other side.
BREAK ON THROUGH So, how did Lindsey make it through? “I had an incredible spouse. I had an incredibly supportive family. I had an incredibly supportive staff,” he says. “Luckily, I had the financial wherewithal to be able to withstand it.” One thing Lindsey stresses is that his decision to leave his firm was not driven by money. Instead, after more than 15 years with his former firm, Lindsey says he was disgruntled by the corporate culture, the investment philosophy and how he was expected to service his clients. He was also dissatisfied with the proposed succession plan, which, according to Lindsey, would have handed over the bulk of his clients to unknown advisors despite the years he spent developing these relationships. Once he committed himself to making the move,
Sup abo
16 | MAY 2014
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7/04/2014 11:16:02 PM
Sentry,