What is supported independence in the context of a Registered Investment Advisor (“RIA”)?

Definition: This is an unofficial name for a type of support model for financial advisors who want their own independent practice, but want to rely on a single vendor for many of the needed support resources. There are several different value propositions of what such firms offer.

When used in an RIA context: “The financial advisor chose a supported independence provider to help them run their independent advisory practice.”

See also: Episode 71