Registered Investment Advisors: Strategies for Growth and Differentiation

Executive summary:

  • Better technology and improved access to financial products have made it easier than ever for advisors to become independent
  • Along with independence comes greater responsibilities, and that requires a different set of skills
  • We believe that advisors who embark on the RIA route will need to "think like a visionary" in order to succeed

The promise of independence is luring more and more advisors to the Registered Investment Advisor (RIA) channel. RIA headcount has grown rapidly over the past decade and by 2027, Cerulli estimates that RIAs will control nearly one-third of intermediary asset market share.1 This is a staggering change in the investment advisory industry!

Maybe you were one of those who craved more freedom to enable a deeper connection with clients. Maybe you are considering the move? Then read on!

This is the first in a series of articles that will look at the evolution of the RIA channel and the different roles and responsibilities that come with becoming an RIA. We hope to provide you with ideas for best practices to build your own business and help your clients strive to reach their financial goals.

The RIA world is unlike the traditional corporate environment where you likely began, and you will need to constantly elevate the skills and tactics you may not have needed at a broker/dealer or other institution.