Ask Brad: Will “Shared-Service Provider” be the RIA buzzword for 2024?

Brad WalesThis 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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I am reminded of a group assignment from one of my undergraduate business classes.

Over 20 years removed, every detail of the project is not top of mind, but I recall the basics.

We were assigned to design a business plan for a fictional food product startup in a a South American country. Beef jerky was our product.

We were tasked with researching the country’s manufacturing channels, supply chain, marketing and sales strategies, grocery store distribution options, etc. We were to create a new food product to introduce, distribute and promote to the marketplace, all in a country none of us were familiar with.

To a bunch of undergraduate students, this seemed like a lot of work!

Then lightning stuck!