Investment advisor next step from parent company?

Hi all – thanks in advance for taking the time to read this. I’ll spell out my situation as best as I can so sorry for the length in advance.

I’m M(30) and my first job out of college is the job I’m currently in. I work with company X (referral from my family) helping teachers enroll in their retirement plans. Before you kill me here, the plan we have has 0 internal fees other than the fund expenses and pays 0 commission (trails) (the only plan to do so in the company in the entire nation) and they pay us $250 per enrollment – flat one time fee (the company, not the teachers).

After 7 years in the business I’ve accumulated around 1500-1800 customers/clients (some are more transactional than others) where I am their only resource for financial planning (something I’ve developed a lot of skill and practice doing and I’m very confident in my ability with room to improve).

My book of business is around $40 million with around $10m of that being independent investment advisory assets and the rest being trapped in proprietary 403bs or other insurance/investment products (I had shitty mentors when I first started).

My question is: I have a lot of room here to get that money out of proprietary products and continue bringing in new business to build that AUM (I charge 1% but only keep around .35% after a series of everyone getting a share on the way down) but at what point do I jump ship and start looking to make a move? What even is that next move? I feel trapped in golden handcuffs like I’ll never be able to leave without starting over or taking a major pay cut.

The proprietary products all have surrender charges or most have to wait until 59.5 to get the assets out to investment advisory without penalty and that’s the only portable asset I have in my own personal business.

I’m consistently invited to the “top 50 advisor” conferences in our company (6/7 years working there) (about 4,000 other advisors are in that pool) so I’ve clearly got a knack for what I’m doing but I just feel stagnant like I can’t be at this company for my entire career.

I’m happy to provide more details but any help or guidance is much appreciated!



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