Transition To RIA Podcast

When an advisor is recruited to a wirehouse (or similar type broker/dealer) an "upfront check" is generally involved. These are often referred to as "forgivable loans." While seemingly lucrative, there are, of course, always strings attached. If circumstances warrant the advisor leaving that firm before the forgivable period ends, there is an expectation that some of that upfront check must be repaid. In this episode (#160) of the Transition To RIA question & answer series, I explain logisti

If you are using lending solutions with your clients, it is understandable that you will need to replicate those solutions if you take a new path with your practice. In the RIA model, solutions like margin loans and non-purpose loans are not only available, but generally come at a significant advantage over your current options. Understanding what's available and how the due diligence process works are common steps when exploring an RIA path. On this episode (#159) of the Transition To RIA qu

Those of us in this industry all too often use jargon like basis points, ETFs, etc. At times, we forget that people (clients) outside the industry, might not be as familiar with that terminology. Turns out, I am just as guilty regarding the RIA industry. Through my 150+ episodes so far I've answered questions about all sorts of minutiae regarding the RIA model. Yet, it recently occurred to me that I have yet to answer the most straightforward question: "What is an RIA?" On this episode (#15

The RIA model generally provides far more flexibility with how you can run your practice. Consequently, an exciting part of transitioning your practice to the RIA model is contemplating the services and investment solutions you'd want to offer your clients upon making the transition. Providing insurance solutions to clients is one such option. However, several variables affect whether and how you can offer these solutions. In this episode (#157) of the Transition To RIA question and answer s

Choosing a custodian to hold your clients' assets is one of the most significant decisions when transitioning your practice to the RIA model. Many variables are involved in deciding which of the roughly dozen custodians best fits your practice. Though just as you would perform due diligence on them, each custodian has its own criteria for which RIAs they will work with. For some custodians, one of those criteria is that the RIA must have a minimum AUM level to use them. However, many nuances

Many people think of the RIA model as an "independent" model. This is accurate, as many pathways into the model are independent in nature. However, some RIA models feature advisors affiliated as W2 employees. These come in many different flavors: partnership models, traditional grid payout models, buyout models, etc. In this episode of the Transition To RIA question and answer series, I explain what these models are and when they may be a fit for your practice. Come take a listen! P.S. Pref