Independent

A term used in at least three distinct ways in financial services: (1) an advisor not employed by a wirehouse or bank, (2) an RIA not affiliated with a broker-dealer, or (3) a franchise or 1099 contractor advisor at a firm like LPL or Ameriprise. The meaning depends entirely on context, and the term is often used in marketing without clarification.

Often confused with:

RIA, Franchise Advisor