Before you start your own RIA, this is what you should consider

Oct 25, 2022 | Uncategorized

Many Advisors want to start their own RIA because they want to own their clients and adhere to their own guidelines.  

While starting an RIA does sound like a great way to grow your practice, there are many roadblocks that will actually stifle your growth. 

As the principal of your RIA, you are also the Chief Compliance Officer and this means that you are under the spot light when the auditors come knocking on your door (which will happen 100% of the time within the first 2 years of inception). 

You also are your own back-office when it comes to on-boarding clients and processing paperwork. 

In order to create operational efficiency, you must also purchase your own technology stack, which can be cumbersome and fragmented if it does not integrate. 

How are your accounting skills? If you do not hire a CFO or accountant, you will also have to take on the burden of maintaining your books as well as managing client fees, which tends to be a large time commitment. 

All these responsibilities put a heavy burden on your bottom line, especially if you do not have the assets to generate that level of reoccurring revenue. 

Owning your own RIA comes with wearing many different hats and take away from doing the most important thing… and that being, bringing on new assets as well as managing your current ones.  

That is precisely why we offer strategic partnerships with our SEC RIA, Caitlin John, and here are some of the benefits: 

  • You own your book of business  
  • You can use your own client facing brand and logo 
  • Plug in to our technology stack 
  • Obtain SEC status and be able to conduct business in all 50 states 
  • Training and back-office support 
  • Proprietary sales process  
  • Dedicated licensed Business Development Advisor to assist you 
  • Access to over 70 Life and Annuity Carriers through our IMO 
  • Open architecture asset management 

Having access to all of these resources allows you to focus on what is most important and what you do best and that is meeting with clients and closing business. We will work with you to create a timeline, grow your practice, and set up your future RIA at no cost once you have the financial confidence to venture out on your own.  

To schedule an exploratory conversation with our of our Business Development Advisors, please click the button below. 

How to Maximize Your Social Security

How to Maximize Your Social Security

Social security is something that everyone thinks they understand until they consider retirement. Suddenly they find themselves trying to understand benefit amounts and what the right age for retirement is. For many, social security is their primary foundation for...

read more