Ask Brad: When is the Wirehouse Model Better than an RIA?
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.
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Some observers assume I tell everyone that they should go down the RIA path.
That is not the case.
For many advisors, the advantages of the RIA model are far superior to what they have available to them, making a transition to it in their best interest.
For other advisors, it is the opposite.
My reputation, and by extension, the success of my firm, is contingent on my willingness to explain both the pros and cons of the RIA model and where appropriate, say when it’s not a good fit.
While each advisor situation is unique, the following are examples of when remaining in the wirehouse model can make sense.