The pros and cons of joining an RIA firm

Greetings!

So you’ve resolved to break away from your wirehouse or regional firm and go RIA. Should you set up your own firm or tuck in to an already established RIA?

To figure out your next move, read my piece in Financial Planning. I lay out the pros and cons of the two choices that lie ahead for you if you go RIA.

I'd be happy to discuss my thinking. Just click the button below to set up a time to chat.

Sincerely,

Mark

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Advisor Deals Continue to Rock

Our ranking of five suns continues for the 16^th month in a row.

Firms are offering exceptional deals as they compete for scarce talent.

High End Boutiques: Upfront can range from 150% to 175% with total packages exceeding 300%.

Wirehouses: Upfront money can range from 150% to 180% with total packages of more than 300%.

Regional Firms: Upfront money can range up to as much as 170%. Total packages can exceed 300%.

Independent Broker Dealers: There are lucrative deals of more than 30 basis points for delivering AUM. Upfront ranges from 20% to 25% up to 100%.

RIAs: Upfront can be up to 50%. Client benefit dollars are available for newly minted RIAs.

Ask Mark

Q: I’ve heard advisors in the RIA space refer to "client benefit dollars."

What are they?

A: Custodians sometimes advance funds to help RIA's provide services to their clients. Funds can be allocated for technology, new websites, compliance — even financial modeling capabilities. The funds get fully disclosed on the firm’s ADV. Amounts vary based on the custodian and the attractiveness of the practice. These are grants and are not like upfront deals, which are loans that amortize over time.

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DID YOU KNOW...

... General George Patton was one of our greatest warriors. Historians credit his unique strategy for the phenomenal success at the Battle of the Bulge — his troops seized 80,000 square miles of territory within 9 months. It can be inspirational to think about how you can re-think your strategy to take your practice to the next level. What do you think you could be doing differently?

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