Transition To RIA Podcast

<p>Whether you start your own RIA, or join an existing one, choosing which custodian to use is an important part of the decision process.</p><p></p><p>As with choosing most solution providers for your practice, many variables should be evaluated. Price is one of them.</p><p></p><p>So how much does a custodian cost?</p><p></p><p>For better or worse, there is a very nuanced answer to that.</p><p></p><p>On this episode (#148) of the Transition To RIA question and answer series, I explain what you should expect to pay (or not) for custodial services.</p><p></p><p>Come take a listen!</p><p></p><p>P.S. Prefer video? You can find this entire series in video format on Youtube. Search for the TRANSITION TO RIA channel.</p><p></p><p>Show notes: <a href="https://TransitionToRIA.com/how-much-does-a-custodian-cost/">https://TransitionToRIA.com/how-much-does-a-custodian-cost/</a></p><p></p><p>About Host: Brad Wales is the founder of <a href="https://transitiontoria.com/">Transition To RIA</a>, 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 &amp; 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.</p>

<p>Over the past decade, all the (now tired) excuses for why advisors shouldn't move to the RIA model have fallen.</p><p></p><p>To name a few:</p><p></p><ul><li>"The technology is not as good."</li><li>"You won't have access to the same level of investment solutions."</li><li>"Clients want the big brand name on the door."</li></ul><p></p><p>Not only are these arguments no longer true, but the RIA model now generally provides a superior solution.</p><p></p><p>But what about servicing HNW and UHNW clients?</p><p></p><p>Can such clients be accommodated the same, or even better, in the RIA model?</p><p></p><p>In this episode (#147) of the Transition To RIA question &amp; answer series, I explain how supporting such clients is not just possible, but generally more favorable in the RIA model.</p><p></p><p>Come take a listen!</p><p></p><p>P.S. Prefer video? You can find this entire series in video format on Youtube. Search for the TRANSITION TO RIA channel.</p><p></p><p>Show notes: <a href="https://TransitionToRIA.com/can-i-service-high-net-worth-and-ultra-high-net-worth-clients-as-an-ria/">https://TransitionToRIA.com/can-i-service-high-net-worth-and-ultra-high-net-worth-clients-as-an-ria/</a></p><p></p><p>About Host: Brad Wales is the founder of <a href="https://transitiontoria.com/">Transition To RIA</a>, 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 &amp; 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.</p>

<p>I am often asked how long it takes to register an RIA.</p><p></p><p>The simple answer is typically 45-90 days, though in some scenarios it could take significantly longer.</p><p></p><p>Equally important is knowing when (and how) to file in relation to when you plan to launch your firm.</p><p></p><p>Furthermore, this is just one step in an overall transition process that typically takes 6-9 months.</p><p></p><p>On this episode (#146) of the Transition To RIA question and answer series I explain the variables that determine the timeline for registering your own RIA.</p><p></p><p>Come take a listen!</p><p></p><p>P.S. Prefer video? You can find this entire series in video format on Youtube. Search for the TRANSITION TO RIA channel.</p><p></p><p>Show notes: <a href="https://TransitionToRIA.com/how-long-does-it-take-to-register-a-ria/">https://TransitionToRIA.com/how-long-does-it-take-to-register-a-ria/</a></p><p></p><p>About Host: Brad Wales is the founder of <a href="https://transitiontoria.com/">Transition To RIA</a>, 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 &amp; 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.</p>

<p>When I explain to advisors they likely will want legal advice regarding navigating their departure from their current firm, I sometimes hear a range of responses:</p><p></p><ul><li>“My buddy left the firm last year, and I’m just going to follow what he did.”</li></ul><p></p><ul><li>“I’m already independent, so none of that applies to me.”</li></ul><p></p><ul><li>“I made a transition 7 years ago, so I already have it figured out.”</li></ul><p></p><p>In reality, most advisors, regardless of their current affiliation model, have at least one (if not multiple) reasons to need such advice: non-solicits, non-competes, Reg SP, broker protocol, deferred comp, forgivable loans, RSUs, taking team members with them, etc.</p><p></p><p>On this episode (#145) of the Transition To RIA question &amp; answer series I explain why and how such legal advice is part of a typical transition.</p><p></p><p>Come take a listen!</p><p></p><p>P.S. Prefer video? You can find this entire series in video format on Youtube. Search for the TRANSITION TO RIA channel.</p><p></p><p>Show notes: <a href="https://TransitionToRIA.com/when-do-you-need-legal-advice-as-part-of-an-ria-transition/">https://TransitionToRIA.com/when-do-you-need-legal-advice-as-part-of-an-ria-transition/</a></p><p></p><p>About Host: Brad Wales is the founder of <a href="https://transitiontoria.com/">Transition To RIA</a>, 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 &amp; 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.</p>

<p>I often encounter a phenomenon with long-tenured advisors.</p><p></p><p>As they've been born and bred at a broker-dealer, they simply assume they always need a broker-dealer.</p><p></p><p>And these are advisors whose practices have become nearly, if not entirely fee-based.</p><p></p><p>Yet their ingrained DNA tells them a broker-dealer is still required.</p><p></p><p>So when considering transitioning their practice to an independent model, they only consider broker-dealer solutions.</p><p></p><p>That is a classic case of the tail wagging the dog.</p><p></p><p>With a predominantly fee-based practice, they need an RIA, not a broker-dealer.</p><p></p><p>On this episode (#144) of the Transition To RIA question &amp; answer series I explain how an RIA compares to an Independent Broker-Dealer, and why if you have a primarily fee-based practice you should not let the tail wag the dog.</p><p></p><p>Come take a listen!</p><p></p><p>P.S. Prefer video? You can find this entire series in video format on Youtube. Search for the TRANSITION TO RIA channel.</p><p></p><p>Show notes: <a href="https://TransitionToRIA.com/how-does-an-ria-compare-to-an-independent-broker-dealer/">https://TransitionToRIA.com/how-does-an-ria-compare-to-an-independent-broker-dealer/</a></p><p></p><p>About Host: Brad Wales is the founder of <a href="https://transitiontoria.com/">Transition To RIA</a>, 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 &amp; 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.</p>