Shows / Transition To RIA Podcast
Transition To RIA Podcast
The Transition To RIA Podcast is named by Kitces as a Top Podcast for Financial Advisors! Brad Wales, founder of Transition To RIA (TransitionToRIA.com) discusses WHY and HOW to transition your financial advisory practice to the Registered Investment Advisor ("RIA") model. This question/answer style podcast pulls directly from the hundreds of RIA related questions Brad has been asked over the years. With 20+ years industry experience, including direct RIA related roles in compliance, finance…
Episodes
- Transition To RIA Podcast
Q160 - How Do I Repay A Forgivable Loan To Move To The RIA Model?
When an advisor is recruited to a wirehouse (or similar type broker/dealer) an "upfront check" is generally involved. These are often referred to as…
- Transition To RIA Podcast
Q159 - Can I Offer Lending Solutions To Clients In The RIA Model?
If you are using lending solutions with your clients, it is understandable that you will need to replicate those solutions if you take a new path with your…
- Transition To RIA Podcast
Q158 - What Is An RIA?
Those of us in this industry all too often use jargon like basis points, ETFs, etc. At times, we forget that people (clients) outside the industry, might not…
- Transition To RIA Podcast
Q157 - Can I Offer Insurance Solutions In The RIA Model?
The RIA model generally provides far more flexibility with how you can run your practice. Consequently, an exciting part of transitioning your practice to the…
- Transition To RIA Podcast
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…
- Transition To RIA Podcast
Q155 - What Is A W2 RIA Model?
Many people think of the RIA model as an "independent" model. This is accurate, as many pathways into the model are independent in nature. However, some RIA…
- Transition To RIA Podcast
Q154 - What Is An RIA Aggregator?
For those that follow my content, I often rant about "TAMPs" and "hybrids." Not that they aren't good solutions, but rather because our industry often uses…
- Transition To RIA Podcast
Q153 - What Are Red Flags To Look Out For In The RIA Model?
All affiliation models have pros and cons. They all have red flags to watch out for as well. The RIA model is no exception. Case in point: when someone…
- Transition To RIA Podcast
Q152 - Should I Join A Hybrid RIA?
Every couple of years, a buzzword seems to rise up to become the industry's token topic. There was an era when "TAMP" was the sexy talk of the day. About 10…
- Transition To RIA Podcast
Q151 - What Licenses Do I Need For The RIA Model?
In most scenarios, passing the Series 65 exam is the prerequisite to become licensed as an Investment Advisor Representative. However, there are scenarios…
- Transition To RIA Podcast
Q150 - What Are The Pros And Cons Of The RIA Model?
There is no golden goose when it comes to affiliation models in the wealth management industry. Wirehouses, independent broker-dealers, RIAs all have pros and…
- Transition To RIA Podcast
Q149 - Can I Use Variable Annuities In The RIA Model?
A misconception about the RIA model is that certain investment solutions such as variable annuities and alternatives (alts), are unavailable for client use…
- Transition To RIA Podcast
Q148 - How Much Does A Custodian Cost?
Whether you start your own RIA, or join an existing one, choosing which custodian to use is an important part of the decision process. As with choosing most…
- Transition To RIA Podcast
Q147 - Can I Service HNW And UHNW Clients As An RIA?
Over the past decade, all the (now tired) excuses for why advisors shouldn't move to the RIA model have fallen. To name a few: "The technology is not as good."…
- Transition To RIA Podcast
Q146 - How Long Does It Take To Register An RIA?
I am often asked how long it takes to register an RIA. The simple answer is typically 45-90 days, though in some scenarios it could take significantly longer…
- Transition To RIA Podcast
Q145 - When Do You Need Legal Advice As Part Of An RIA Transition?
When I explain to advisors they likely will want legal advice regarding navigating their departure from their current firm, I sometimes hear a range of…
- Transition To RIA Podcast
Q144 - How Does An RIA Compare To An Independent Broker-Dealer?
I often encounter a phenomenon with long-tenured advisors. As they've been born and bred at a broker-dealer, they simply assume they always need a…
- Transition To RIA Podcast
Q143 - What Is The Minimum AUM Needed To Have Your Own RIA?
What is the minimum AUM needed to have your own RIA? Beware of anyone that gives you an immediate answer, with an immediate AUM figure to that question. There…
- Transition To RIA Podcast
Q142 - How Do I Evaluate An RIA To Join?
There are multiple pathways into the RIA model. Each with pros and cons. One of the pathways is to join an existing RIA. When I first note the latter to…
- Transition To RIA Podcast
Q141 - Is It Easier To Acquire An Existing RIA Or Register A New One?
Should you register a new RIA, or simply buy an existing RIA? If you are considering transitioning your practice to the RIA model, you have multiple pathways…
- Transition To RIA Podcast
Q140 - How Does Transitioning To Another Wirehouse Compare To Transitioning To The RIA Model?
Every year many financial advisors transition their practice from one wirehouse to another. Provided they’ve done their research and concluded that such a path…
- Transition To RIA Podcast
Q139 - What Time Of Year Should I Transition To The RIA Model?
If you were to transition your practice to the RIA model, is there is an ideal time of the year to make the change? Before considering calendar variables…
- Transition To RIA Podcast
Q138 - What Is A 1099 RIA Model?
While it is not always referred to as a "1099 model", there is a type of RIA platform offering that many advisors find to be an attractive alternative to…
- Transition To RIA Podcast
Q137 - Why Do Advisors Leave The Wirehouse Model For The RIA Model?
We often hear about “breakaway” advisors. That is commonly understood to refer to wirehouse advisors “breaking away” to setup their own independent practices…
- Transition To RIA Podcast
Q136 - What Does The "Portfolio Management" Tool In An RIA Tech Stack Do?
A typical RIA “tech stack” is comprised of 3 core pieces of software: CRM Financial Planning Portfolio Management But what exactly does the generic sounding…
- Transition To RIA Podcast
Q135 - What Is The Best Custodian To Use With Your RIA?
Choosing a custodian to hold your client assets is one of the most important decisions you’ll make when transitioning your practice to the RIA model. While it…
- Transition To RIA Podcast
Q134 - What Are The Biggest Ways To Screw Up A Transition To The RIA Model?
In this episode (#134) of the Transition To RIA question & answer series we expand upon five critical ways advisors can make mistakes when transitioning their…
- Transition To RIA Podcast
Q133 - Steps Involved With Breaking Away From A Wirehouse To Transition To The RIA Model?
There is a well established process for how to breakaway from a wirehouse, to transition your practice to the RIA model. This process has been refined within…
- Transition To RIA Podcast
Q132 - What Is An RIA Solicitor Agreement?
Attracting new clients is the lifeblood of any advisory firm. One of the advantages of transitioning your practice to the RIA model is the increased…
- Transition To RIA Podcast
Q131 - What Is The Benefit Of Controlling Your Local Expenses As An RIA?
Being able to control your so-called “local expenses” as an RIA, or 1099 when joining an RIA, comes with additional responsibilities, but also significant…
- Transition To RIA Podcast
Q130 - What Is An RIA Roll-Up Firm?
Should you consider joining a “roll-up” firm? But what exactly are they rolling up? All of your practice? Some of your practice? Do they take operational…
- Transition To RIA Podcast
Q129 - Can I Use Alternative Investments As An RIA?
“You won’t be able to use Alts (alternative investments) if you transition to the RIA model.” “Ok, maybe that’s no longer the case….but you won’t have access…
- Transition To RIA Podcast
Q128 - Can I Use The Same Investment Models Or SMAs That I'm Using Now If I Transition To The RIA Model?
A benefit of transitioning your practice to the RIA model is gaining access to a wider array of investment solutions, technology offerings, and service…
- Transition To RIA Podcast
Q127 - What Is The Difference Between An RIA And A Broker-Dealer?
Participants in our industry often talk about moving to another broker/dealer. But when they say “broker/dealer” they are also often referring to an RIA. Or…
- Transition To RIA Podcast
Q126 - What Type Of Fees Can I Charge My Clients In The RIA Model?
The RIA model typically provides far more flexibility with how you can charge your clients for your services. AUM, flat, subscription, hourly are some of the…
- Transition To RIA Podcast
Q125 - How Difficult Is A Transition To The RIA Model?
How difficult is a transition to the RIA model? It’s difficult enough that some advisors and teams can never bring themselves to cross the bridge. Whereas…
- Transition To RIA Podcast
Q124 - What Is An RIA-Friendly Broker-Dealer?
You don’t have to be 100% fee-only to transition your practice to the RIA model. There are potential ways to “solve” for your remaining legacy commission…
- Transition To RIA Podcast
Q123 - What Additional Responsibilities Come With Your Own RIA?
So, you want to start an RIA? You want the better economics that come with it? The increased flexibility you’ll have with your practice? But are you aware of…
- Transition To RIA Podcast
Q122 - Is The Payout In The RIA Model Really 100%?
Advocates of the RIA model will often passionately proclaim “THE PAYOUT IN THE RIA MODEL IS 100%!!!” With such generous economics, the RIA path must surely be…
- Transition To RIA Podcast
Q121 - Do I Have To Drop My Series 7 If I Go RIA?
You studied for months to take the Series 7. You anxiously sat through the multi-hour test. Perhaps with your livelihood on the line. You finished the test and…
- Transition To RIA Podcast
Q120 - Are There Platform Fees In The RIA Model?
“Platform fees” in our industry are the “resort fees” of the hotel industry. Just as a hotel room rate can be distorted by the addition of mandatory resort…
- Transition To RIA Podcast
Q119 - How To Make Up For Lost Deferred Comp When Transitioning To The RIA Model?
If you are an advisor at a firm that utilizes deferred compensation as part of the comp plan, ask yourself why your firm is doing that. If the value and…
- Transition To RIA Podcast
Q118 - Is My Practice Too Large To Join An RIA?
I am often asked, “How large a practice do I need, to have my own RIA?” Equally important is the other end of the spectrum as well, “Is my practice too large…
- Transition To RIA Podcast
Q117 - How To Solve For Your Remaining Commission Assets?
A common misconception about the RIA model is that you must be 100% fee-only with your practice. While many RIAs are indeed 100% fee-only, and others aspire to…
- Transition To RIA Podcast
Q116 - How To Explain To Clients Your Transition To The RIA Model?
You’ve spent months researching the RIA model. Months performing due diligence. Months planning for the actual transition. The day to transition arrives. You…
- Transition To RIA Podcast
Q115 - How Does An RIA Payout Compare To A Broker Dealer Payout?
What is the payout in the RIA model? Simple question, not so simple answer. To perform an accurate comparison, you must: Properly calculate your current…
- Transition To RIA Podcast
Q114 - What Are The Most Stressful Parts Of Starting An RIA?
Transitioning your practice to the RIA model involves a lot of work, and at times, a fair amount of stress. But ask anyone that has made the transition, and…
- Transition To RIA Podcast
Q113 - Can I Join A Custodian's Client Referral Program?
If you start your own RIA, will you be able to participate in your custodian’s client referral program? First starters, do you know what these programs are? Or…
- Transition To RIA Podcast
Q112 - What Motivates Advisors To Transition To The RIA Model?
Whether in our personal or professional lives, most everything in life revolves around motivations. What motivates you to run your advisory practice as you do?…
- Transition To RIA Podcast
Q111 - Most Time Consuming Part Of Transitioning To The RIA Model?
How long does a transition to the RIA model take? The time needed is impacted by variables such as the circumstances of the advisor/team, which pathway into…
- Transition To RIA Podcast
Q110 - What Is The Most Popular Type Of RIA To Join?
There are several reasons advisors choose to join an existing RIA versus starting their own. But that’s not the only decision to be made. There are a wide…
- Transition To RIA Podcast
Q109 - What Is The Most Exciting Part About Starting An RIA?
When a new client comes to you for help managing their financial life, there are many steps involved. Some are more exciting for the client than others…
- Transition To RIA Podcast
Q108 - Difference Between Reoccurring Revenue & Fee Based Revenue?
"Fee-based" revenue is often "reoccurring" revenue..... .....but "reoccurring" revenue is not necessarily "fee-based" revenue. Confused yet? Often incorrectly…
- Transition To RIA Podcast
Q107 - Are The Economics Better In The RIA Model?
You’ve likely heard it before, the economics are better in the RIA model. But why is that? To name a few: Higher top line revenue Ability to control expenses…
- Transition To RIA Podcast
Q106 - What Is The Real Estate Advantage Of The RIA Model?
Do you own or rent your home? What advice do you give your clients about owning vs renting? While there are exceptions, owning typically has far better…
- Transition To RIA Podcast
Q105 - Will My Practice Have A Higher Valuation In The RIA Model?
Will the marketplace assign a higher valuation to your practice in the RIA model? While there are multiple variables that go into a valuation calculation…
- Transition To RIA Podcast
Q104 - Should I Transition To The "RIA Channel" At My Multi-Channel Firm?
You want to transition your practice to the RIA model. You are currently affiliated with a multi-channel firm. One of those options is their “RIA channel.”…
- Transition To RIA Podcast
Q103 - Should I Avoid Joining A Private Equity Backed RIA?
“I don’t want to join a firm that’s owned by private-equity?” Why is that? “They just want to build it and sell.” But isn’t your current firm (whatever that…
- Transition To RIA Podcast
Q102 - Difference Between A Super-OSJ And An RIA?
Super-OSJ or RIA? Let’s start with what is an OSJ? Let alone, what makes an OSJ “Super?” And then how does it compare to an RIA? If you are considering joining…
- Transition To RIA Podcast
Q101 - Difference Between A Hybrid RIA And A Hybrid Broker-Dealer?
“Hybrid” “Hybrid RIA” “Hybrid Broker-Dealer” Are they the same, or are they different? Depends on who you ask! Solution providers will often tout having a…