Transition To RIA Podcast
Everything you need to know about WHY and HOW to transition your practice to the Registered Investment Advisor ("RIA") model.
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Q139 - What Time Of Year Should I Transition To The RIA Model?
If you were to transition your practice to the RIA model, is there is an ideal time of the year to make the change?Before considering calendar variables, though, you first want to consider factors pertinent to your unique scenario including potential vesting cycles on deferred comp, tranches on forgivable loans, etc.It is then important to be aware of, and understand why there are certain times of year that advisors/teams generally seek to avoid making a transition during.On this episode (#139) of the Transition To RIA question & answer series I address these variables and discuss what goes into a timing decision on when to make a transition.Come take a listen!P.S. Prefer video? You can find this entire series in video format on Youtube. Search for the TRANSITION TO RIA channel.Show notes: https://TransitionToRIA.com/what-time-of-year-should-i-transition-to-the-ria-model/About Host: Brad Wales is the founder of Transition To RIA, where he helps financial advisors between $50M and $1B understand everything there is to know about WHY and HOW to transition their practice to the Registered Investment Advisor (RIA) model. Brad has 20+ years of industry experience, including direct RIA related roles in Compliance, Finance and Business Development. He has an MBA and has held the 4, 7, 24, 63 & 65 licenses. The Transition To RIA website (TransitionToRIA.com) has a large catalog of free videos, articles, whitepapers, as well as other resources to help advisors understand the RIA model and how it would apply to their unique circumstances.
Q138 - What Is A 1099 RIA Model?
While it is not always referred to as a "1099 model", there is a type of RIA platform offering that many advisors find to be an attractive alternative to running their own RIA.These "1099 models" come in various flavors but they typically share the following (among other things):Retain 100% ownership of your practice;Use your own brand;Control your local expenses;Access a suite of technology and solution provider resources;If applicable, provide solutions for your remaining legacy commission assets; etc.If considering starting your own RIA, it's worthwhile understanding how these models compare.In this episode (#138) of the Transition To RIA question & answer series I explain what these models are and why they’re worth considering for your practice.Come take a listen!P.S. Prefer video? You can find this entire series in video format on Youtube. Search for the TRANSITION TO RIA channel.Show notes: https://TransitionToRIA.com/what-is-a-1099-ria-model/About Host: Brad Wales is the founder of Transition To RIA, where he helps financial advisors between $50M and $1B understand everything there is to know about WHY and HOW to transition their practice to the Registered Investment Advisor (RIA) model. Brad has 20+ years of industry experience, including direct RIA related roles in Compliance, Finance and Business Development. He has an MBA and has held the 4, 7, 24, 63 & 65 licenses. The Transition To RIA website (TransitionToRIA.com) has a large catalog of free videos, articles, whitepapers, as well as other resources to help advisors understand the RIA model and how it would apply to their unique circumstances.
Q137 - Why Do Advisors Leave The Wirehouse Model For The RIA Model?
We often hear about “breakaway” advisors.That is commonly understood to refer to wirehouse advisors “breaking away” to setup their own independent practices.It’s one of the main reasons the RIA channel has been, and continues to be, the fastest growing channel in the industry.But why do we never hear about independent advisors going in the other direction to the wirehouse model?Why does the river only run in one direction?In this episode of the Transition To RIA question & answer series I explain:Why the current trend was not always the case.What caused the trend to now occur (for a decade plus now.)What the main motivators are for wirehouse advisors to make the change.Come take a listen!P.S. Prefer video? You can find this entire series in video format on Youtube. Search for the TRANSITION TO RIA channel.Show notes: https://TransitionToRIA.com/why-do-advisors-leave-the-wirehouse-model-for-the-ria-model/About Host: Brad Wales is the founder of Transition To RIA, where he helps financial advisors between $50M and $1B understand everything there is to know about WHY and HOW to transition their practice to the Registered Investment Advisor (RIA) model. Brad has 20+ years of industry experience, including direct RIA related roles in Compliance, Finance and Business Development. He has an MBA and has held the 4, 7, 24, 63 & 65 licenses. The Transition To RIA website (TransitionToRIA.com) has a large catalog of free videos, articles, whitepapers, as well as other resources to help advisors understand the RIA model and how it would apply to their unique circumstances.
Q136 - What Does The "Portfolio Management" Tool In An RIA Tech Stack Do?
A typical RIA “tech stack” is comprised of 3 core pieces of software:CRMFinancial PlanningPortfolio ManagementBut what exactly does the generic sounding “portfolio management” tool do?Considering it is typically by far the most expensive piece of a tech stack, it’s important to understand the role it would play in your practice.In this episode (#136) of the Transition To RIA question and answer series I explain:What a portfolio management tool is.How these tools came to be.How they align with other parts of a tech stack.And in some scenarios, whether you even need one to begin with!Come take a listen!P.S. Prefer video? You can find this entire series in video format on Youtube. Search for the TRANSITION TO RIA channel.Show notes: https://TransitionToRIA.com/what-does-the-portfolio-management-tool-in-an-ria-tech-stack-do/About Host: Brad Wales is the founder of Transition To RIA, where he helps financial advisors between $50M and $1B understand everything there is to know about WHY and HOW to transition their practice to the Registered Investment Advisor (RIA) model. Brad has 20+ years of industry experience, including direct RIA related roles in Compliance, Finance and Business Development. He has an MBA and has held the 4, 7, 24, 63 & 65 licenses. The Transition To RIA website (TransitionToRIA.com) has a large catalog of free videos, articles, whitepapers, as well as other resources to help advisors understand the RIA model and how it would apply to their unique circumstances.
Q135 - What Is The Best Custodian To Use With Your RIA?
Choosing a custodian to hold your client assets is one of the most important decisions you’ll make when transitioning your practice to the RIA model.While it might at first seem as simple as picking from the “Big 3” (formerly “Big 4”) custodians, the reality is there are close to a dozen custodial providers to potentially choose from.Differentiators amongst them include: AUM minimums, pricing, approach to technology, value proposition, service offerings, etc.In the latest episode (#135) of the Transition To RIA question & answer series I discuss how these variables will factor into your custodial decision.Come take a listen!P.S. Prefer video? You can find this entire series in video format on Youtube. Search for the TRANSITION TO RIA channel.Show notes: https://TransitionToRIA.com/what-is-the-best-custodian-to-use-with-your-ria/About Host: Brad Wales is the founder of Transition To RIA, where he helps financial advisors between $50M and $1B understand everything there is to know about WHY and HOW to transition their practice to the Registered Investment Advisor (RIA) model. Brad has 20+ years of industry experience, including direct RIA related roles in Compliance, Finance and Business Development. He has an MBA and has held the 4, 7, 24, 63 & 65 licenses. The Transition To RIA website (TransitionToRIA.com) has a large catalog of free videos, articles, whitepapers, as well as other resources to help advisors understand the RIA model and how it would apply to their unique circumstances.
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