The word “independent” often comes up when people seek a financial advisor. It appears on websites, in brochures, and in conversations, but what does it mean in wealth management? More importantly, how does it affect the planning relationship you might build?
Here’s what it typically means when a firm describes itself as an independent financial advisory firm, and how that structure may influence your planning experience, especially for clients with complex financial needs.
Defining “Independent” in the Advisory Context
In the advisory world, “independent” generally refers to a firm not owned by or affiliated with a brokerage, bank, or insurance company. These firms are often structured to operate without proprietary products or sales quotas. They are typically registered as investment advisers with the U.S. Securities and Exchange Commission (SEC) or a state regulatory agency.
For advisory clients, this usually means that the firm is responsible for providing advice under the fiduciary standard. At Virtue Asset Management, that standard applies to our advisory relationships. While “independent” describes our structure, it’s only one part of the broader relationship we maintain with clients. We are one of the top independent wealth management firms focused on creating lasting, personalized financial partnerships.
How Independent Firms Are Structured
An independent firm can be structured in several ways. Some are fee-only, meaning advisory clients pay directly for the services they receive. Others may be fee-based or have dual registrations that include brokerage capabilities. It’s important to note that independence does not necessarily refer to compensation models. Rather, it refers to how the business is organized and who, if anyone, the firm is affiliated with.
At Virtue, we use a fee-only model for our advisory clients. This means compensation comes directly from those clients, rather than third-party product providers. However, we also recognize that professionals across the financial industry can provide high-quality service and advice regardless of firm structure. Independence is among many frameworks and should be understood as part of the bigger picture. What distinguishes many independent wealth management firms is the ability to select platforms and tools that support client-specific planning goals without external product requirements.
The Planning Experience with an Independent Firm
For clients working with an independent firm, the planning process often emphasizes ongoing engagement and alignment with long-term goals. Financial planning in this setting typically goes beyond investment selection and may include retirement projections, charitable giving strategies, estate coordination, and multigenerational wealth planning.
Because independent firms are not tied to a single product suite or platform, they may have more flexibility in choosing third-party custodians, technology, and planning tools. That flexibility can support a more customized experience, though results will always depend on each client’s unique circumstances, goals, and input.
Clients engaging in independent investment planning often benefit from a broader focus, including tax-aware withdrawal strategies, charitable giving integration, and alignment with estate plans. At Virtue, we work closely with clients to review their financial picture regularly, identify opportunities or adjustments, and help coordinate updates as life changes occur.
Collaboration with Legal and Tax Professionals
Another aspect of working with an independent advisory firm is coordinating openly with outside professionals. Whether you’re working with a trust attorney, CPA, or estate planner, an advisor can help facilitate communication across your team.
For example, you may want to align your gifting strategy with your estate plan or evaluate how concentrated stock positions affect your long-term tax picture. Having an advisory partner who can engage in these discussions can support continuity and reduce planning gaps over time.
Virtue Asset Management frequently works with outside professionals on behalf of our advisory clients. This collaborative approach allows us to stay focused on what matters most, ensuring that each element of your plan works in coordination with the others. For those pursuing independent investment planning, this kind of coordination often helps bring clarity to complex financial decisions.
When This Structure May Be the Right Fit
The decision to work with an independent advisory firm depends on your preferences, priorities, and expectations. Some families appreciate the planning flexibility and direct engagement that often come with an independent structure. Business owners facing succession or liquidity planning may benefit from a collaborative approach that includes multiple outside professionals. Others may seek a long-term relationship centered around ongoing planning and clear communication.
At the same time, the best advisor relationship is about more than firm structure. It includes trust, transparency, experience, and a shared understanding of your goals.
Why Many Clients Choose to Work with Virtue Asset Management
At Virtue Asset Management, advisory clients rely on us for retirement income planning, charitable giving strategies, estate coordination, education funding, and concentrated stock management. Business owners often turn to us for succession planning, liquidity event preparation, and asset transition support. We collaborate with estate attorneys, CPAs, and trustees to help align financial strategies with broader goals. As an independent firm using a fee-only model for advisory services, we offer flexibility in selecting planning tools and custodians. Our long-term focus and core values lie in helping clients move forward with clarity and confidence.
Investing involves risk, including the possible loss of principal and value fluctuation. Past performance is no guarantee of future results.
This is not intended to be relied upon as forecast, research, or investment advice, and is not a recommendation, offer, or solicitation to buy or sell any securities or to adopt any investment strategy.
Additional information about Virtue Asset Management is available in its current disclosure documents, Form ADV, Form ADV Part 2A Brochure, and Client Relationship Summary report, which are accessible online via the SEC’s Investment Adviser Public Disclosure (IAPD) database at www.adviserinfo.sec.gov using SEC #801-123564. Virtue Asset Management is neither an attorney nor an accountant; no portion of this content should be interpreted as legal, accounting, or tax advice.