There is a well established process for how to breakaway from a wirehouse, to transition your practice to the RIA model.

This process has been refined within the industry over many decades, and thousands of transitions.

In this episode (#133) of the Transition To RIA question and answer series I outline the three main steps involved, and the variables within each step that are important to be aware of and consider

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-are-the-steps-involved-with-breaking-away-from-a-wirehouse-to-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.

Attracting new clients is the lifeblood of any advisory firm.

One of the advantages of transitioning your practice to the RIA model is the increased flexibility (as compared to most captive advisor models) in how you can brand and market your services.

An example is the ability to establish paid referral relationships with, typically, centers of influence.

These are referred to as solicitor agreements.

But not all RIAs are created equal.

In this episode (#132) of the Transition To RIA question and answer series I explain when and how such arrangements are typically used.

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-an-ria-solicitor-agreement/

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.

Being able to control your so-called “local expenses” as an RIA, or 1099 when joining an RIA, comes with additional responsibilities, but also significant benefits to match:

• Only pay for the resources you actually use.
• The ability to run as lean or extravagant of a practice as you wish.
• Determine the composition of your team.
• Benefit from controlling your local real estate footprint.

On this episode of the Transition To RIA question and answer series I expand on these benefits, and others, with respect to controlling your local expenses.

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-benefit-of-controlling-your-local-expenses-as-an-ria/

About Host: Brad Wales is the founder of Transition To RIA, where he helps financial advisors 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.