Finding your best path to independence—RIA, hybrid, or aggregator?

Breaking away and launching your own firm is a bold move—one that puts you in control of your career, your clients, and your future.

But independence isn’t one-size-fits-all. Choosing the right business model is key to ensuring long-term success while aligning with your goals, compliance preferences, and desired level of autonomy.

The good news? You have options. Whether you’re looking for complete control, a balance of independence and support, or a structured partnership, there’s a model that fits your vision.

Registered Investment Advisor (RIA): Maximum independence, maximum control 

For advisors who want full autonomy, the RIA model provides complete independence, allowing you to make all business decisions and control every aspect of your firm.

• Direct relationships with custodians
• Flexibility to choose your own technology and investment solutions
• Full responsibility for compliance and operations

Best for: Advisors who want to build a firm on their own terms and maximize revenue potential.

Hybrid RIA: The best of both worlds 

A hybrid RIA allows advisors to retain brokerage licenses while operating as an independent firm, blending fee-based and commission-based revenue models.

• Mix of advisory fees and commissions for diversified revenue
• Shared compliance responsibilities with a broker-dealer
• Greater flexibility for those transitioning from a commission-based model

Best for: Advisors who want to maintain commission-based business while gaining independence.

Aggregator/Platform Model: Support without the heavy lifting 

Advisors who join an established RIA gain access to shared resources, technology, and operational support while maintaining a degree of independence.

• Built-in compliance, technology, and operational infrastructure
• Revenue sharing in exchange for platform services
• Less operational burden, allowing more focus on clients

Best for: Advisors who want independence but prefer a structured support system.

The power of choice

No matter your path, going independent is about creating a business that works for you. The key is finding the model that aligns with your long-term goals and sets you up for success.

Important information

Information provided by Independent Advisor Solutions by SEI, a strategic business unit of SEI Investments Company (SEI®).