For many advisers and firms in the UK, the idea of joining a network brings up one big fear: losing independence.
It’s a myth that’s persisted for years and, let’s be honest, has kept some fantastic firms from making the move to a network that could help them to thrive. But here’s the truth, joining a modern financial services network isn’t about giving up control. In fact, it’s the opposite. The right network empowers you to run your business in the way you want to whilst giving you the support and resources to succeed.
Let’s start by acknowledging where this misconception comes from. In the past, some networks had a reputation for being overly rigid. They offered one-size-fits-all solutions that left little room for firms to maintain their unique identity or approach. It’s no surprise that advisers who experienced this, or heard stories about it, felt like networks were all about conforming to someone else’s way of doing things and pushed against this, oftentimes taking on the additional costs of becoming Directly Authorised. The financial advice industry has changed since then and so has modern networks. Today, the best networks focus on flexibility and allow you to keep that independence to run your business the way that you want to, with the helping hand there to guide you when you need it.
One of the biggest concerns we hear from new enquirers is, “If I join a network, will I lose control over how I run my business?” The short answer is… absolutely not. Modern networks understand that every firm is different, with its own clients, processes and goals. Instead of imposing rigid structures, they provide a framework that supports your independence while helping you to meet regulatory requirements, access new tools and grow your business. You’re still in the driver’s seat; the network is there to make the journey smoother and give you back some time to do the things that are important to you, whether that’s taking on extra clients or simply having more time for yourself.
Take compliance as an example. Many advisers worry that a network will micromanage their compliance processes, leaving them feeling stifled. But the reality is, a good network offers tailored compliance support that works for your business. They provide the expertise and resources that you need to navigate regulations like Consumer Duty without taking over your day-to-day operations. You’re still responsible for your advice and your clients, but with the peace of mind that comes from knowing you have expert guidance on the other end of the phone when you need it.
Technology enhancements – without limits
Technology is another area where leading networks truly stand out. Rather than adding complexity, the right tools should enhance an adviser’s workflow and client service. A strong network partnership can offer access to enterprise-level technology at discounted rates and assist in navigating the fast-evolving software landscape.
In the age of Artificial Intelligence (AI), it’s more important than ever to measure twice and cut once. Choosing the right tools requires careful consideration and your network should be there to help.
Need help finding a platform to streamline admin? Done. Looking to deliver a seamless digital experience for clients? Easy. The right technology doesn’t change how you run your business—it makes it easier, faster, and more effective. And if your current setup is already working well? Great. The best networks won’t force change—they support what works.
The importance of culture and identity.
Another common myth is that joining a network means giving up your firm’s identity. This couldn’t be further from the truth. Modern networks understand that your brand is your business. They’re not interested in turning you into a clone of every other firm in the network. Instead, they support your individuality, helping you to build on what makes you unique. Whether it’s through marketing support, tailored training or access to new opportunities, they’re there to enhance what you’ve already built, not replace it. After all, your success is in the network’s best interests.
Let’s talk about decision-making, because this is another area where the “loss of independence” myth tends to pop up. Some advisers worry that joining a network means giving up control over big decisions, like which products they can recommend or how they manage their client relationships but with the right network, that’s not the case. You remain in control of your advice and your client journey. The network’s role is to provide a safety net, giving you access to compliant, high-quality products and services while leaving the final decisions in your hands.
Another key benefit of partnering with a network is that they will have the difficult conversations with you when a decision that you want to make, might not be in your best interests. Networks have access to industry experts, ones that have spent time in the industry making mistakes along the way, sometimes it might not be easy to hear, but those with this experience can help to guide you and have a difficult conversation with you from the place of experience.
The real question is: what does independence mean to you?
For many advisers, it’s about having the freedom to run their business their way, without unnecessary interference but independence doesn’t mean going it alone. The right network enhances your independence by taking care of the things that slow you down, like admin, compliance and sourcing new tools, so that you can focus on what matters most: your clients and your growth.
It’s also worth mentioning the power of community. Joining a network doesn’t just connect you to resources, it connects you to other like-minded professionals. This doesn’t take away from your independence; it adds to it. You gain access to a support system of peers who understand the challenges that you face and are willing to share ideas, insights and solutions. It’s collaboration, not competition and it’s one of the most valuable aspects of being part of a modern network.
So, let’s put the myth to rest. Joining a financial services network doesn’t mean losing independence. It means gaining a partner that’s as invested in your success as you are. The right network will give you the tools, support and confidence to run your business your way while helping you meet the challenges of a fast-changing industry.
If you’re holding back because you’re worried about giving up control, take a closer look at what modern networks like Sense have to offer. You might find that joining the right one doesn’t just preserve your independence, it takes it to the next level and in today’s financial landscape, that’s exactly what your business deserves. Check out our Sense network services and benefits guide to see exactly how we support you while maintaining your independence. Then when you’re ready, get in touch with one of the team for a no obligation, initial discussion to see how we can help you.
https://ashlgroup.turtl.co/story/sense-network-services-and-benefits/page/1
