Why One Is The Loneliest Number For Independent RIAs

Discover why going solo as an independent RIA can lead to isolation, missed opportunities, and business challenges—and how collaboration can be the key to success.

The Illusion of Independence: When Going Solo Means Going Nowhere

Independence is a powerful motivator for many registered investment advisors (RIAs) who want the freedom to serve their clients in their own way. The idea of striking out solo, making every key decision, and controlling your firm’s destiny can sound like the ultimate achievement. However, this quest for autonomy can sometimes create an unexpected barrier to growth.

Operating in isolation may feel like pure independence, but it often leads to missed opportunities and a lack of perspective. Without external input or diverse viewpoints, solo advisors risk stagnation and may struggle to adapt to evolving industry trends. The illusion of complete independence can actually hold firms back from reaching their full potential.

The Hidden Costs of Isolation in the RIA World

While being independent offers flexibility, it also comes with significant challenges. Solo RIAs frequently face critical business decisions—whether in hiring, compliance, technology adoption, or marketing—without a support system or sounding board. This isolation can result in inefficiencies, as advisors spend valuable time solving problems that others have already mastered.

Without a network to share best practices, solo practitioners may miss out on proven strategies, innovative tools, and collaborative opportunities. The lack of peer feedback can also create uncertainty, making it difficult to confidently pursue new growth initiatives or succession planning strategies.

Collaboration as a Catalyst: How Partnerships Drive Growth

Shifting from a 'do-it-yourself' mindset to one centered on collaboration can be transformative for independent RIAs. Drawing inspiration from the book 'Who Not How,' advisors can focus on finding the right partners, mentors, and experts to help them scale their businesses, rather than trying to master every challenge alone.

Partnerships enable RIAs to leverage specialized knowledge, share operational burdens, and accelerate growth. By collaborating within a supportive ecosystem, advisors retain their independence while gaining access to resources and insights that are otherwise out of reach. This approach doesn’t dilute autonomy—it amplifies it by freeing up advisors to focus on their strengths and client relationships.

Leveraging Networks for Enhanced Client Solutions

A strong professional network is more than just a safety net—it’s a strategic asset. By connecting with other RIAs, industry experts, and service providers, advisors can offer clients a broader range of solutions, respond more effectively to complex needs, and stay ahead of regulatory or market changes.

Collaborative networks like those fostered by Thayer Partners empower independent advisors to pool knowledge, share best practices, and engage in joint problem-solving. This collective expertise translates directly into better client outcomes and a more resilient, future-ready practice.

Building a Resilient Practice in a Collaborative Ecosystem

Sustainable growth and long-term success in the RIA space require more than technical competence—they demand adaptability, innovation, and support. Joining a collaborative ecosystem allows advisors to learn continuously, benchmark against peers, and navigate succession challenges with confidence.

At Thayer Partners, our model is designed to connect independent RIAs without compromising their autonomy. Through shared resources, strategic guidance, and growth-focused events, we help advisors build practices that are both resilient and agile—ensuring they never have to face business challenges alone.