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 [...]
Financial Advisors have no shortage of options when it comes to finding a work environment that suits their personalities, work styles, and professional goals. From the support and institutional structure of a wirehouse firm to the independence of an RIA, Financial Advisors have the freedom and flexibility to choose a work structure that best fits [...]
A first meeting, whether it’s with a prospective employer, a potential new client, or even a new business associate, can always be a little anxiety-inducing. After all, you want to be sure to answer any questions, make a great first impression, and make sure you express your interest in the relationship. But too much follow-up [...]
“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 [...]
The past two years have brought on a number of changes for financial advisors and their clients. Covid-related shutdowns, more readily available consumer information, and the financial uncertainty associated with Covid’s impacts on the economy, have all combined to usher in a new era of financial advising, in which advisors and their clients are both [...]
It goes without saying that the Covid-19 pandemic has changed just about everything the way we live, work, and invest. Advisors have found new ways to serve their clients, have become their own IT and client support departments, and many have discovered new workflows, routines, and practices that serve their clients better. Covid has also [...]
