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Q156 - Do Custodians Have Minimum AUM Requirements?
Choosing a custodian to hold your clients' assets is one of the most significant decisions when transitioning your practice to the RIA model.
Many variables are involved in deciding which of the roughly dozen custodians best fits your practice.
Though just as you would perform due diligence on them, each custodian has its own criteria for which RIAs they will work with.
For some custodians, one of those criteria is that the RIA must have a minimum AUM level to use them. However, many nuances exist regarding how AUM is defined, and whether your RIA would meet their criteria.
In this episode…
The skinny
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