The Myth of Independence in Financial Advice with Brad Shepherd
Episode 103: Brad Shepherd is the President and CEO at Founders Financial, a broker-dealer and RIA dedicated to building purpose-rich, advisor-centric enterprises. With nearly three decades in the industry, Brad blends deep financial expertise with a passionate commitment to helping advisors grow intentional, values-driven practices. His journey from investment rep to executive leader is shaped by strong mentorship, a calling to serve, and a conviction that people—not platforms—drive impact.
This week, Kyle and Brad discuss the myth of independence in the financial services industry and the power of interdependence between firms and advisors. They dive into Founders’ unique Strategic Enterprise Program, how to scale while staying true to your mission, and why Brad believes staying small and focused can beat the industry’s race toward consolidation.
In this episode:
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(00:00) - Intro
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(02:05) - Brad's money moment
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(06:38) - Brad's transition from advisor to CEO
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(10:16) - What sets Founders Financial apart
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(14:08) - Why advisors want to become independent
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(17:16) - Founders' Strategic Enterprise Program (SEP)
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(21:59) - What it means to be a purpose-driven, servant-led financial planning firm
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(25:27) - Simplifying internal complexity
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(31:07) - Founders' ideal partners
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(37:16) - Leveraging technology wisely
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(43:24) - Brad's outlook on the future of the industry
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(50:39) - Brad's Milemarker Minute
Key Takeaways
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Independence is a myth—embrace interdependence. Brad challenges the industry narrative of independence, arguing that advisors are rarely truly independent and benefit more from authentic partnerships with firms that share their values and vision.
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Your business is a reflection of who you are. Founders Financial’s Strategic Enterprise Program helps advisors grow with intentionality by focusing on personal vision, values, and leadership—not just platforms and performance.
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Discipline and clarity create scale. Brad emphasizes the importance of staying focused, saying no to distractions, and aligning every decision with a clear mission. This kind of intentional discipline is what allows firms to scale without sacrificing their identity.
Quotes
"We actually are not in the independent space. We are in the dependent space. The actual, honest characterization of a relationship between advisors and firms is that we're dependent upon each other." ~ Brad Shepherd
"What makes independent advisors great isn't their commodities. It isn't their investment management prowess or their cooler financial plan. It's them." ~ Brad Shepherd
"Smart decisions about how you manage and run your business and the right partners to help you do it, using the tools that you now have to the best of their ability, drive the outcomes you seek." ~ Brad Shepherd
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