<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>