Is It Time to Go Independent?

Advisors typically control ~40% of fees at a wirehouse versus up to 100% at an RIA, net of expenses roughly 70%, because they own the practice and pay direct expenses rather than a captive overhead allocation.

For most advisors at $300M+ AUM, independence generates materially higher take-home over a 5-year period, even after transition costs. Break-even is typically year 1–2.

At a wirehouse, your book belongs to the firm. As an independent, it’s a transferable asset with real enterprise value. This calculator estimates what your practice is worth today, how that equity grows over time, and projects your 10-year take-home, breakeven year, and lifetime value under both scenarios.

Surveyed transitions average ~86% of clients moving with the advisor. Retention is highest with strong local relationships, a clean announcement, T+1 contact, and a steady follow-up cadence.

Wirehouse deals are typically forgivable loans over 7–9 years; leaving early triggers repayment of the unforgiven balance. The calculator shows whether independence still wins — for $300M+ advisors it usually does within 2–3 years.

Year 1 is typically lower — clients in transition, setup costs, ramp. Year 2 matches or exceeds your final wirehouse year. Year 3+ is where compounding kicks in: high retained revenue plus growing equity.