As you gear up for the new year, a well-crafted business plan can guide you through transitioning to independence and growing your practice in 2024. Here's a step-by-step guide to help you develop a business plan and how Cornerstone can support you along the way.


Clearly articulate your mission, reflecting the purpose of your practice and your commitment to clients, and establish a set of values that will underpin your business culture and client relationships.

Your professional mission statement is your business guide. It can address things like who you are, why you do what you do, and what outcomes you provide to clients. There is no set length to a mission statement, but you should be able to easily remember it and remain connected to it. A mission statement is not a goal or strategy, nor is it necessarily tied to your services – it relates to your “why.” Answering questions like the following can help you develop your professional mission statement: How do I make a difference in my clients’ lives? Why is the work I do important?

Developing a set of core values for your business can also be beneficial as you plan for the future. Values are a handful of guiding principles by which you (or your company) navigate. To develop your values, answer the following questions: Who are you and what makes you different? What do you really do for your clients? What will their experience be like working with you?



Craft one-year, three-year, and five-year goals that are Specific, Measurable, Achievable, and Compatible with your long-term vision. One-year goals provide a short-term focus on your immediate priorities: transitioning your clients, establishing a new office, and navigating new systems. Three-year goals offer a balance between short-term wins and more significant, transformative initiatives. Five-year goals signify a commitment to sustained growth and long-term success.

As you revisit your SMAC goals, make sure you’re tracking key metrics quarterly to gauge the success of your business. This can include wallet share, the number of households, net new assets, and client satisfaction.



Tap into the resources provided by Cornerstone as you transition into independence and beyond. We offer you the foundation and the flexibility to customize your business and provide greater control over the client experience through support, structure, and scale.

Here are the services we offer:

  • Dedicated Transition Specialist: Facilitates a seamless client transition during your first three months with Cornerstone, so you can focus on talking to your clients.
  • FastStart Program: Receive guidance from an advisor mentor to navigate LPL Financial systems and services.
  • Back to Business Coaching: Establish efficient systems with a peer advisor's assistance post-transition.
  • Ongoing Support: Benefit from regular meetings, coaching, special events, and resource sharing for sustained growth.


Transitioning to independence is an exciting journey, and Cornerstone is here to provide not just support but a complete ecosystem for success. With a clear mission, strategic goals, and the robust resources offered by Cornerstone, your business plan aims to pave the way for a thriving independent practice.