A big part of being a Registered Investment Advisor, or RIA, is ensuring that your business practices, technology solutions, communications with clients, and investment strategies comply with the myriad regulations that govern the financial services industry. Of those rules and regulations, none is more important than the fiduciary duty rule. Your fiduciary obligations are likely [...]
After two years of uncertainty and upheaval, it’s no wonder that many financial advisors, like those in all walks of life, are considering more independent career paths. But making the decision to leave a wirehouse for a more independent financial advisory practice is a complicated one. Understand more about the pros and cons of going [...]
Starting out as an RIA or independent broker-dealer is complicated. New RIAs don’t just need to worry about attracting clients or managing their assets responsibly, they also need to keep up-to-date with requirements for state and federal compliance. Failing to adhere to these strict regulatory rules can be costly — fines, legal fees, and lost [...]
“If you fail to plan, you are planning to fail” — Benjamin Franklin One of the first steps in going independent, whether captive, hybrid or turn-key with an IBD or RIA, is making sure you’ve got the right plan in place. Creating a business plan is a critical component in getting ready to move to [...]
As an independent advisor, you know that your investment skill is only part of the package you bring to the table to provide the best client service. You also serve as your own marketing, billing, and compliance department, a source of important news, and an expert resource. Maintaining excellent client relationships is at least as [...]
As the end of the year approaches, many of us use the opportunity to take stock, think about the future, and reassess our goals. For a lot of financial advisors, this means looking toward the horizon and thinking about the next frontiers in our careers. Luckily for advisors who are wondering what comes next, there [...]
Advisors thinking about breaking-away from wirehouse firms and pursuing an independent path have a lot of things to consider — the cost of establishing a new firm, setting up technological and practical workflows that will support existing customers while also pursuing new growth, and creating a business plan that will allow their new venture to [...]
2021 has been a year of unprecedented changes to the way we live and work. For the first time, many financial advisors were able to work remotely, plugging into family life like never before, and developing new workflows and approaches that worked for them. And many — including many who never previously considered an independent [...]
