The Breakaway Blueprint: How Nelly Mubashi Helps Advisors Go Independent

July 15, 2025

Episode 101: On this week’s episode of Next Mile, I speak with Nelly Mubashi, CEO of Northwest Asset Management and RIA Innovations. She’s known for building advisor-first solutions that combine operational excellence, flexible service models, and a strong commitment to culture—empowering advisors to scale their practices without sacrificing autonomy or quality.

We discuss her unconventional journey to leadership and the vision behind her dual-firm structure. We explore the challenges advisors face when breaking away from wirehouses, the importance of culture in remote teams, and how offering flexible, à la carte services gives RIAs the freedom to grow on their terms. Nelly also shares how she’s expanding support with offerings like tax prep, HR, and even a new trust company—all designed to help advisors deliver more value to clients while staying focused on what they do best.

Key Takeaways

Breaking away from a big firm doesn’t mean sacrificing service or professionalism. Advisors often fear that going independent means a downgrade in service or technology. But with the right support model—like the one Nelly has built—advisors can maintain (or even enhance) client experience while gaining freedom and flexibility..

One-size-fits-all platforms limit advisor growth—flexibility is key. Offering à la carte services gives advisors the ability to build the business that works best for them. By avoiding rigid packages and letting advisors customize what they outsource, firms can better serve a wider range of needs and goals.

Technology should empower—not complicate—advisor independence. Having a curated but flexible tech stack, paired with an experienced ops team, allows advisors to plug in and focus on clients instead of platforms. Integration and data visibility across systems are essential to scale effectively without losing clarity.

Quotes

“We’re looking for advisors who are simple. They don’t take a lot of risk, are easy to manage, and their clients can be scaled up.” ~ Nelly Mubashi

“When thinking about our services, we’re making sure that we are providing the highest level of service and the highest level of technology so that advisors have that great experience. They don’t feel like they’re getting downgraded because you know they’re moving to a small RIA.” ~ Nelly Mubashi

“I want to make sure that advisors have a platform where they feel comfortable and don’t feel too small for someone to pay attention to them.” ~ Nelly Mubashi

Links

Nelly Mubashi on LinkedIn

Northwest Asset Management

RIA Innovations

U.S. Bank

Piper Jaffray (now Piper Sandler)

Orion Advisor Solutions

eMoney Advisor