Ask Brad: How Do I Start My Own RIA?

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This is the latest installment of a regular column to answer questions from advisors who are considering transitioning to an RIA model. To see Brad’s previous articles, click here. To submit your question, please email Brad here.

By the nature of what I do, helping advisors transition their practices to the RIA model, I am naturally asked this question frequently.

It is a simple question. But considering the numerous variables involved in such a process, there is no universal answer. After all, consider the hundreds of different solution providers you might consider using with your own RIA.

Custodians, technology vendors, compliance firms, service platforms, TAMPs, etc., all make for a wonderful ecosystem of solutions from which advisors can choose. But it also makes for a complex and intimidating review and selection process.

It doesn’t have to be.

Just as you simplify complex topics for your clients, there is an approach to navigate the complexities of starting your own RIA as well.