More than likely, you decided to go into the financial advising business because you wanted to help people. However, if you went the ‘normal’ route and took a position as a commissioned advisor, you probably quickly noticed that your hands were tied in many situations. You may have found yourself balking at the idea of making money off every investment product you sold, or not being able to take enough time with each client because you were pushed to schedule as many meetings as possible.

Incidents like this may have started to sour you on the industry as a whole—but that doesn’t have to be where the story ends. When you switch from a planner who works on commission to an advice-based financial advisor, you can regain that freedom to serve that you sought when you started your career. Simply put, being an entrepreneurial advisor allows you to buck blind tradition and gives you the freedom to truly be who you are (and what your clients need you to be).

Attract the Type of Clients You Like

When you work only with your ideal clients, you experience a whole host of benefits including less rejection, increased confidence, and an ability to easily find prospects who fit your business model. As an independent advisor, you can specifically target those you want to work with. Instead of being forced to target as broad a range of clients as possible to boost your sales numbers, you can instead hone in on who benefits most from your services and what age ranges, professions, or financial profiles you’d most like to add to your book of business.

Design the Work You Enjoy Doing

If you’re anything like me, you hate the idea of your clients seeing you as a salesperson or ‘stock picker’. As an entrepreneurial advisor, you have a chance to design a firm that focuses more on counseling clients and being a mentor, and less on being a stockbroker. You can also develop a niche that focuses on your area of expertise. Perhaps you really enjoy helping couples who are only a few years away from retirement, or maybe you really work well with those in the teaching industry. With an entrepreneurial business, you can design your firm around these niches and create work you enjoy doing instead of hoping the work that comes through your door will be enjoyable.

Create a More Satisfying and Profitable Career

Once you’ve successfully established your ‘why’ for being in the financial planning business, you can easily incorporate your values and goals into your career. Not only does this guarantee a more satisfying path, but it will also mean more profit. Your clients want to believe in those they work with, which is difficult to do if you’re subscribing to someone else’s version of success. When you truly believe in what you do and the way you’re doing it, it will show and your clients will feel it in every interaction. This will increase the trust they have in you and allow you to develop deep, meaningful relationships that grow throughout the years.

I can’t tell you how many financial planners I’ve talked to who got into the business with all the right intentions, only to find their desire to help people stifled by regulations, stagnant thinking, and silly rules. If you truly want the freedom to serve and be an asset to your clients, being an entrepreneurial advice-based planner is by far the best choice you can make.

Have questions or comments on serving your clients with freedom? I want to hear from you! Comment below!


When you become a mentor to your clients, deeply understand them, and guide them toward a better future, then you’ve learned the ways of a financial caregiver. You’ve come to know what it means to be a true purveyor of advice, and how to use money as a conduit to a more fulfilling life for yourself and those you serve.