Many advisors consider a move to independence and ownership in the practice they have built. Such a move can present unique challenges for women advisors, as well as opportunities to play to their strengths.
We asked women executives at Dynasty Financial Partners affiliates about the most important traits needed for a move to independence, the strengths they bring to an independent business and industry changes that could widen access to ownership for women advisors: Brittany L. Hartnett, Principal Partner and Chief Growth Officer at OpenArc Corporate Advisory; Amy Drinkard, Partner and Client Advisor at Steadmont Advisors; and Casey Jorgensen, Chief Growth Officer at Cyndeo Wealth Partners.
Our questions and their responses follow.
WSR: What traits are most important for a female financial advisor to successfully transition from a wirehouse or employee model into independence and ownership?
Hartnett: We have witnessed our female financial advisors experience great success in the transition from a wirehouse to independence. Our clients have come to rely upon the deep care and consideration, empathy and compassion they receive from their female advisors. A female advisor’s organizational skills and mastery of communication are amplified during transition, testing her ability to clearly and systematically inform and educate clients, shepherd them through the transition process, and work to get them acclimated to their new environment.
As a working mom of four whose husband also transitioned his clients to independence at the same time, the clients I serve know that for us to be willing to undertake this transition at all, much less together, we had to be incredibly convinced that it would be wildly better, for our clients and our team.
WSR: Are there particular strengths that successful female advisors bring to the independent model, whether in building client relationships, developing teams, creating culture or growing a business? If so, which strengths matter most?
Drinkard: Deep, long‑horizon client relationships. Female advisors are often noted for building relationships based on trust and full financial pictures, not just portfolio performance, which tends to translate into strong retention when they go independent and clients need a reason to make the move with them.
Team and culture building. Many women in this industry lead with a collaborative style that creates strong internal cultures, which matters more in an independent firm since culture is not inherited from a big institution; it has to be built intentionally from day one.
Comprehensive, planning‑first approach. Rather than leading with product or investment performance, many successful female advisors lead with life planning, which fits naturally with the independent model since there is more flexibility to build a truly customized, fee‑based, planning‑centric practice outside of a wirehouse’s product pressures.
Multi‑generational and referral‑based growth. Advisors who invest in relationships with spouses, children, and the next generation of a family tend to grow their book more sustainably, and that patient, relationship‑first growth style tends to be well suited to building an independent firm for the long term rather than chasing short‑term production numbers.
WSR: What needs to change within the wealth management industry to encourage more female advisors to consider independence?
Jorgensen: We need to stop treating the representation of women and the ownership of advisory businesses by women as the same problem. Getting more women into wealth management is essential, but the industry also needs to intentionally move women from support roles to lead advisor roles, from lead advisors to equity holders, and from equity holders to acquirers.
That means earlier ownership of client relationships, clearer succession opportunities, greater access to capital, sponsorship from senior leaders, and more visible examples of women who have successfully built independent firms. It’s a huge part of why I joined Cyndeo Wealth Partners as a Chief Growth Officer, being responsible for advisor recruiting, M&A pipeline and execution, and firmwide organic growth strategy.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
