When advisors join Freedom Point Financial, they enter a unique work support environment that frees them to do the best possible job for their clients. We understand that advisors want to reach their freedom point to!
The Freedom Point Financial business model is designed to remove conflicts of interest between advisors, their RIAs, and their broker dealers, so everyone can consistently act in the best interest of the clients.
As you read through the information contained on this website and learn the details of how this business model works, you will begin to see how you can use the flexibility of the Freedom Point Financial business model to facilitate the vision you have of growing and improving your own financial planning practice.
Whether you are a well-seasoned advisor seeking more freedom and resources to expand your business, or still near the beginning of starting your career as a financial advisor and seeking marketing and business support, you will find that the products and services of Freedom Point Financial are well equipped to give you support where you need it, freedom where you want it, and all at a price that makes a lot of business sense.
We know you have lots of business model's (e.g. wire houses, independent broker dealers, RIAs, small boutique firms, and the solo practitioner method) to choose from in the financial services industry, so here is what makes us different.
From the moment you join us, you will own your book of clients, your client data and files, all your office equipment hardware and software, and have full control over your office space situation and your staff service team contracts. If it ever becomes necessary for you to leave us, don't worry, because it all stays with you, and you won't even have to repaper your accounts to a new broker dealer or RIA.
Remember we aim to give you support where you need it, freedom where you want it, and all at a price that makes a lot of business sense. As a financial advisor of Freedom Point Financial you get the benefits of both a strong brand name and a work environment that is fair and supportive to help you in your marketing and advertising and in the growing of your clientele and staff. You can have as many assistants, paraplanners, portfolio managers, junior advisors, and other personnel as your business requires to function the way you direct. You can choose your own marketing niches as well as the kinds of marketing methods and tools you want to use to grow your business.
A great advantage of joining Freedom Point Financial is that each advisor is only responsible for their own business expenses, and they are able to receive the full payouts they have negotiated with their clients, broker dealer, RIA, and other product vendors before Freedom Point Financial receives any compensation. This means our advisors never have to worry about how much of their production is getting spent on other advisors needs, company infrastructure, or on the staff of Freedom Point Financial. The compensation paid to Freedom Point is consistent, easy to understand, and customized to each associate advisor's situation.
In addition to the core brand participant benefits that each associate advisor receives, other a la carte services are available when each individual associate advisor determines they need them. A la carte services include marketing development assistance, client services assistance, technology and software selection assistance, process and procedure development assistance, business development assistance, staff training advice, and continuity planning advice.
Associate advisors at Freedom Point Financial never have to worry about climbing a corporate ladder, or selling some else's interpretation of a financial plan, or someone else's investment portfolio. Nor do they have to worry about management pressure to sell proprietary products, or working to build someone else's financial planning business. At Freedom Point Financial each associate advisor is their own boss, and in complete control of how they run their business and spend their money. They also control the way they help their clients, and the direction their career is going. You can now settle yourself in an environment where the rules of work are well thought out, clearly written, and unbiasedly enforced. The need for a new kind of fair and supportive work environment for financial advisors is long overdue in the financial services industry. Come and explore the possibilities that are here for you. Click here to be put in contact with someone that can answer your questions.
Each financial advisor must meet certain qualifications before they can join Freedom Point Financial.
Those qualifications are:
It means each advisor must be an independent contractor of Securities America, and an independent contractor of Arbor Point Advisors, LLC or some other broker dealer approved RIA, and an independent contractor of any insurance company they want to represent as a licensed agent. In relation to Freedom Point Financial, advisors are not employees, but instead are classified as a Marketing Partners. As Marketing Partners each advisor can receive the services outlined in our services agreement, and have access to all the other "a la carte services" specified in the services agreement.
Each advisor's compensation comes from their clients and depends on the payouts they have negotiated as an independent contractor's of the broker dealer, and as an independent investment advisor representative of an approved RIA, and as independent insurance agents. Advisor revenue never passes through the payroll of Freedom Point Financial at all. Thus advisors are required to compensate Freedom Point Financial after they receive their revenue as an independent contractor.
Compensation to our associate advisors is generally higher than industry average because our broker dealer and RIA connections let reps start payouts at 80% to 85%. Then when it is factored in that expenses to Freedom Point Financial are designed to be predictable, like a monthly rent payment, and that each associate is only responsible for their own operating expenses, it becomes possible for some associate advisors to reduce their total yearly business overhead to under $20,000.
Compensation to Freedom Point Financial includes a one-time startup fee when an advisor first joins the Freedom Point Financial associate advisor group, and then an ongoing monthly participation fee is required. Then there are also separate "a la carte" services, as well as printing and material costs for all marketing materials (i.e. company letterhead, custom envelopes, business cards, brochures, logo specific pens, custom thank you cards, custom note pages, custom sticky notes, custom folders for workshops, company logo clothing, company logo gifts, company power point background templates, etc.). To get a quote call us at 801-984-8066 or email us at firstname.lastname@example.org.
Each advisor's tax filing is based on the concept that they are independent contractors of Securities America, and their chosen RIA, and the various insurance agencies they do business through, and that they will be receiving 1099's for the compensation they get from them because of their client accounts. Each advisor's options include filing as a sole proprietor using their own name, or they can create any business entity their tax advisor recommends (i.e. S-Corp, etc.), as long as it is allowed by the supervising broker dealer. Just keep in mind that each advisor has to disclose on their outside business activity questionnaire that they are a Marketing Partner of Freedom Point Financial. Fees paid to Freedom Point Financial are treated just like other business expenses that each advisor pays throughout the year, and as such will help reduce an advisor's taxable income.
Since Freedom Point Financial has been designed to facilitate independence, each advisor will still own everything related to their business and thus such an event is entirely in their control according to the contingency plans they have created. Since they are not required to change broker dealer or RIA or insurance agencies, they will not have to repaper any accounts. Since they own all their hardware, software, office staff contracts, and client data, it all stays the way they have it organized.
The joint marketing agreement does have some protections to prevent advisors from soliciting or recruiting each other's clients or staff, and from soliciting or recruiting staff or clients of Freedom Point Financial even after the agreement is terminated, but all such provisions are based on maintaining a non-threatening work environment for everyone both during the term of the agreement as well as for two years after the agreement ends. In summary, separation from Freedom Point Financial means termination of the joint marketing agreement. The result is the ending of an advisor's brand participant benefits and termination of their access to the "a la carte" associate advisor services.
Usually no, but it depends on if your office is in an area of a building that is entirely dedicated and branded for serving its associate financial advisors. In such a case moving is required, but note that each advisor is permitted to run their office in any location that is approved by their broker dealer (including having a home office), thus there are many situations where an office location does not have to change just because the joint marketing agreement is terminated. Instead, all that would be required is removal of the company name and marketing materials from the office location. A big advantage to our business model is that every advisor has the freedom to move out of an office space that they share with another associate advisor that has become problematic, without having to give up their brand.
All communication with Freedom Point Financial is treated as confidential unless we are given specific permission to talk about it with others. Freedom Point Financial has been designed from the very beginning to protect the confidential information of all advisors, staff, and clients.
Since each advisor owns all their own hardware, files, data, etc., the staff of Freedom Point Financial and the other independent financial advisors of Freedom Point Financial will not have any access to each other's client or business information. Freedom Point Financial has no compliance or supervisory role over each advisor's business and thus never audits or oversees their books or files in any way. Auditing functions are provided by the broker dealer and the RIA/OSJ that each advisor has selected.
Associate financial advisors are never required to mentor other financial advisors in the group and thus each financial advisor can maintain whatever level of confidentiality they desire.
The path to joining Freedom Point Financial is to first talk to or meet with a representative of Freedom Point Financial to see if your business model is a good match to the business environment of Freedom Point Financial. A good match means that a financial advisor is confident in their financial planning skills and in their ability to organize their own work schedule, and has the motivation and production necessary to support themselves and the staff they employ to service their clients. Financial advisors come to Freedom Point Financial because they want the advantages of belonging to an ensemble group of financial advisors without the disadvantages and limitations of being a company employee.
Next you will need to speak with a representative of the RIA to make sure joining their group as an independent investment adviser representative would be a good match. Then you would need to speak with a representative of Securities America to see if joining them as a registered representative would be a good match. Introductions to the people you need to speak with at each organization will be provided by a representative of Freedom Point Financial when you are ready to take that step.
Once you go through the approval processes of Freedom Point Financial, and the broker dealer Securities America, and an approved RIA, such as Arbor Point Advisors, LLC, you can begin using the company name Freedom Point Financial in your marketing and advertising, and have access to the other resources of the company that are available.
It depends on where you decide to locate your office. If you locate in a facility that has a dedicated receptionist and office manager then you can receive help answering calls and with various office management matters.
In as much as this question applies to the brand participation benefits and "a la carte services" the answer is yes, there is staff to help. But regarding each advisor's personal client accounts or financial planning matters, those issues must be handled by the advisor or his or her personal staff. Some advisors may choose to share/split the cost of office staff with another associate advisor, but all such arrangements must be approved by the supervising broker dealer and supervising RIA/OSJ.
A primary objective of the Freedom Point Financial business model is to enable every financial advisor to completely know and control their business expenses. One of the most frustrating facets of belonging to a firm where you are an employee is not having any control over how the split of compensation they take from your production is used. In essence you may be paying 20% to 70% of your production to the firm and you still can't get a personal assistant or a new computer or a better office space. Or worse you are a smaller producer then others so you can't get access to the marketing help you need to grow your book.
In the Freedom Point Financial business model both the large and the small producers can have and manage whatever resources they believe are in their best interest. If one advisor needs two personal assistants and a larger corner office then all they have to worry about is if they have enough production to pay for it. If another advisor is still at the beginning of building their book of business and they need to keep their expenses low, then they may opt to have a home office, and set up a virtual office at the main building to be able to use the conference rooms and receptionist to make their situation more manageable. No advisor has to worry about getting money or permission from a firm principal like would be needed at other companies.
The first problem that Freedom Point Financial is trying to address for independent financial advisors is who their primary loyalty is towards in their work. The answer is it should always be their clients, but when an advisor's employment is anything other than an independent contractor for production purposes, then conflicts of interest in terms of loyalty to employers and clients are more likely to arise.
The second problem is that although financial advisors want their independence, they also want to belong to a strong and supportive brand that facilitates networking with their peers for the sake of reducing expenses, discovering new business opportunities, and designing contingency and business succession plans. But they don't want to give up control of how they manage their clients, expenses, and personal processes and procedures. And they don't want the liability of partnering with advisors whose financial planning or investment management approaches are different than theirs. This is a primary strength of the Freedom Point Financial business model in that as marketing partners each advisor is classified as a client or customer of Freedom Point Financial, not an employee, and thus they don't share any liability with the other advisors other than potential reputation issues if an associate advisor causes one. The issue of brand reputation is addressed by having a mandatory code of conduct and associate advisor rules which can be enforced by termination of a marketing partner's right to use the brand name and the company resources.
At Freedom Point Financial we believe that continuity planning and business succession planning are best accomplished by first connecting advisors under a common brand. Our unique way of connecting advisors under a common brand without connecting the other aspects of their businesses results in a competitive advantage to advisors when they begin the process of choosing another advisor as a continuity partner.
The main advantage is brand familiarity to the clients involved, along with the ability to retain those clients through a transition event. In the cases of continuity planning for disability or incapacity it is easier to facilitate a temporary management of clients and the returning of control to the original advisor when the event is over. In the cases of death or retirement it can be easier to locate a trustworthy replacement because the non-compete clauses of the joint marketing agreement will prevent associate financial advisors of Freedom Point from soliciting a seller's clients or staff if they for any reason opt not to sign a continuity agreement after discussions start, or even if they opt not to buy the business after signing a continuity agreement with a seller. Successors to a deceased advisor will also have an easier time finding another replacement by reaching out to the other associate advisors of the network if the original continuity plans don't work out. And finally, the possibility of splitting a book of clients and selling pieces to multiple advisors is no longer such a difficult transition project to transact if the buying advisors are all associate financial advisors of Freedom Point Financial.
Advisors are free to choose any continuity planning or business succession planning arrangement they want with any advisor either in or out of the company advisor network, but by choosing an advisor who is a marketing partner of Freedom Point Financial it should help make management of all the planning details of such a project much easier to resolve.
Absolutely! One of the best features of the Freedom Point Financial business model is that advisors who want to work a certain niche together, or share office staff expense, or share office space expense can do so. Since the advisors are already joined together by sharing a common broker dealer and approved RIA/OSJ's, then they only have to work out the details of how to put their marketing campaign together or how to recruit office staff instead of worrying about any of the larger business and marketing issues. And they don't have to worry that the value of their book will get watered down by the business development and the management issues of other advisors.
Some of the main career paths linked to the Freedom Point Financial business model are as an independent associate financial advisor, a staff member of an associate financial advisor, or an employee of Freedom Point Financial.
As Freedom Point Financial grows it will need to employ professionals who can serve our associate financial advisors and their staff. Advisors are encouraged to apply if they feel it is a good fit for them.
Any of the staff of our associate advisors that apply will be denied unless specific written authorization is given by their employing associate financial advisor, or they have reached the milestones outlined in the approved career path options that their employing financial advisor presented to them at the time they became employed, as per the Associate Advisor Rules.
Associate financial advisors are required in the Associate Advisor Rules of the joint marketing agreement to provide a career advancement option to their employees that allows them to become independent financial advisors even if the employees do not think they will ever use the option. This is because Freedom Point Financial does not ever want to have a situation where the benefits we offer our associate advisors cannot be extend to the staff they hire. The culture we are striving to create for the whole network of financial advisors and their staff's is one of support and access to the long-term career options that each person feels are in their best interest, and we aim to deter any employment arrangements that are contrary to that objective.
No. Each advisor can do financial planning any way they want and charge whatever fees they want as long as they are approved by their broker dealer and RIA. The website is designed to reflect the basic philosophy of Freedom Point Financial and to provide a guideline to advisors of how to begin offering this kind of financial planning method as a main or side service to prospects and clients. If an advisor's actual services differ from what is shown on the website then they must disclose this to their prospects before they come for a meeting and pay the fee to the advisor. Associate advisors may also work with the staff of Freedom Point Financial and an approved design company to develop new brochures or marketing pieces or web content complete with company logos to describe their personal services and costs, to hand out to their own clients and prospects.
Payout negotiations are between each advisor and Securities America and the RIA they select. Typically, payouts range between 80% and 95% depending on the advisor's current production. Arbor Point Advisors, LLC has an excellent payout grid and allows their investment advisor representatives to use other approved RIA platforms to get access to even more investment and managed account options.
Call us at 801-984-8066, or email us at email@example.com and we will contact you.
When Freedom Point Financial or any of our associate financial advisors have a staff position they want to fill they will post it on this website. Please do not call or email to inquire about staff positions if none are posted.