Q67 - How Would I Improve The Wirehouse Brokerage Model?

Transition To RIA Podcast · Jul 19, 2022 · 28m

I admit it, I critique the wirehouse brokerage model a LOT.

Considering how much it contrasts with the RIA model, there’s lots to be critiquing!

What if the wirehouse model could be improved though?

In the latest episode of my RIA question and answer series, I discuss 8 ways the wirehouse model could become more competitive with the RIA model:

Think of your advisors as your clients.

Tell your advisor “clients” they are all free agents.

No gimmicks with the payout.

Better yet, invert your payout.

Eliminate deferred compensation.

No forced cross-selling.

Tier your approach to compliance…