While fee-only readers don't have to worry about these things, Spire is an option for those brokers and advisors who are sick of the traditional broker-dealer relationship, but don't want to spin off entirely on their own, Blisk says.

Liliana N. Molina is one of those advisors. She left Ameriprise a little over six months ago after ten years there to work with a group of four advisors at Spire who call themselves the VZN Group. "I was unhappy when I left. I felt, even as part of Ameriprise's independent model, that it had become a cookie-cutter firm."

Molina was also frustrated by the investments she couldn't offer. "I couldn't offer Vanguard or T. Rowe Price mutual funds. I couldn't offer Virginia's American Funds 529 plan, because it wasn't on our platform, but my clients lived in Virginia, so I recommended the funds anyway, without compensation. After ten years, that was really adding up." The sales culture was also chafing, Molina says. "There were always contests and expectations. When you have a large number of people vying for top spots, you don't know if it's client needs driving sales or the urge to win."

As Molina looked around at her options, she realized that while she wanted independence, she didn't want to create her own firm. What she wasn't willing to sacrifice anymore was access to the full universe of funds, insurance and variable annuities. "I can't say I particularly like variable annuities, but having the full breadth of services available to my clients is important to me." Currently, her business is about 75% fees and 25% commission, and she says she could see moving it to 80% fees in the next year or so.

Since joining Spire in early August 2006, Molina says she is even more impressed with the firm. She says the one-screen total desktop client management system and other tools Spire provides surpass what she had at the wirehouse. "The client data system here is Web-based, so it's much easier for mass mailings and keeping track of tasks. I'm impressed," Molina says.

Clients had already seen her go through a number of changes at Ameriprise, so they weren't surprised when she moved to Spire. "They knew this was an important transition for them and for me," Molina says. Being around "seasoned, anchored people" who she could turn to for expertise with complex cases was the culture she was seeking when she moved to Spire, she says.

She brought $50 million with her (selling off $30 million in assets that weren't transferable), and she expects to grow by 20% annually, starting this year. "I already have six new clients as a result of referrals, and existing clients have transferred more assets to me because they believe I have more expertise available to me here."

The firm's business consulting services have also helped her, she says. "I wasn't necessarily trying to become a complete entrepreneur on my own, but the tools and templates have helped me value my practice and identify and focus on my strengths and weaknesses. The principles and structure of this firm have made my transition and managing my business as painless as possible," Molina says.

Scott Airey, a onetime Legg Mason broker who left his branch manager position with Charles Schwab in 2003 to create his own firm, quickly found his time overtaken by regulatory filings, compliance issues and general operations. Within several months, he opted instead to join Spire and create the VZN Group there, which Molina joined last year. He has grown his business from $0 in assets to $200 million in just five years. "When I came to Spire, it allowed me to focus on what I should be doing-client account work. They've given me a lot of support here." Spire's business consulting "gives you perspective. They've been there, done that, so it's easy for them, as I grow, to pinpoint areas, like staffing, where I can be more decisive and effective." The firm is also creative, suggesting he share a temp with another advisor group, to free up his five-person team to make client calls.

Airey, who says he is 99% fee-only and only accepts an occasional commission for real estate investment trusts or a variable annuity, manages a portfolio of individual equities and also likes private equity, especially deals financing local businesses. Spire itself scouts for private-equity deals to make available to advisors, Airey says. "The idea that each advisor team here can manage money the way they want is great," says Airey. The advisor says individual equities enhance his ability to manage money tax efficiently-something he'll underscore with clients now that he has hired a tax preparer.