The Biggest Mistake Breakaway Advisors Make

Leaving a wirehouse? Congratulations. However, it’s crucial to be aware of the common mistakes Breakaway Advisors make, as independence doesn’t guarantee instant success.

Jason Barber has seen it time and time again. Many breakaway advisors make the same critical mistake: They rush into independence without a clear plan. The excitement of building something new often overshadows the foundational steps required to succeed.

Tech Stack Confusion

Advisors often invest in technology they don’t need or systems that don’t integrate. Without thoughtful tech stack selection, your operations become clunky, not efficient. True independence requires building a tech ecosystem that actually works together.

Weak Brand Positioning

Many assume clients will follow simply because they’ve left their old firm. However, without a strong brand message that communicates your unique value, attracting and retaining clients becomes an uphill battle. Independence is your chance to stand out—but only if you plan your brand intentionally.

Underestimating Operations

Compliance. Billing. CRM setup. These operational details are often overlooked, yet they’re essential to running a successful firm. Without solid infrastructure, your new independence can quickly feel overwhelming.

The Bottom Line:
Independence is an opportunity to build the firm you’ve always envisioned—but only if you slow down, plan wisely, and avoid these common pitfalls.

These insights are inspired by the Next Mile podcast featuring Jason Barber, CEO and Co-Founder of Uptick Partners. Listen to the full episode here and explore more articles in this series.