Compensation matters…full stop…period. Understanding the economics of running an independent registered investment advisor is incredibly important. The benefit in this transition from an employee to an owner is the control. As an owner, the principals now control the decisions—how much to spend on real estate, marketing, and employee salaries. With all of the misinformation in the marketplace, it is challenging to know what is fact and what is fiction. In today’s episode, we speak with the quantitative powerhouse Ben Bines. Ben will walk us through the most important financial considerations when choosing the independent path and common mistakes advisors make during this process. We’ll also spend some time dispelling myths around the cost of independence.