How Difficult Is A Transition To The RIA Model? скачать в хорошем качестве

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 other advisors and teams learn how to navigate the process, and successfully do so. There are nonetheless still “difficult” parts to a transition: Overcoming the uncertainty of a model you’re not yet familiar with. (This is solved through education.) The workload involved with putting all the pieces into place, particularly down the stretch as the transition nears. The sprint to move your clients post-launch. In this episode of the Transition To RIA question & answer series I explain how to successfully navigate these “difficult” steps. I'm Brad Wales with Transition To RIA (TransitionToRIA.com). This is episode #125 of my question and answer series where I answer RIA related questions I get from advisors just like you. What I do: At Transition To RIA I help financial advisors understand everything there is to know about WHY and HOW to transition their practice to the Registered Investment Advisor (RIA) model. RESOURCES & LINKS ___________________________________________ 🔹 Website: https://TransitionToRIA.com/ 🔹 Show notes: https://TransitionToRIA.com/how-diffi... 🔹 Contact me: https://transitiontoria.com/contact/ 🔹 List of all questions I've answered: https://transitiontoria.com/videos/ 🔹 Podcast: https://transitiontoria.com/podcast/ 🔹 Whitepaper ("11 Ways The Economics Of The RIA Model Are Superior To Other Advisor Affiliation Options"): https://transitiontoria.com/whitepapers/ 🔹 Transcription of video: How difficult is a transition to the RIA model? That is today's question on the Transition To RIA question and answer series. It is episode #125. Hi, I'm Brad Wales with Transition To RIA where I help you understand everything there is to know about why and how to transition your practice to the RIA model. If you're not already there, head to TransitionToRIA.com where you’ll find all the resources I make available from this entire series in video format, podcast format. I have articles, I have whitepapers. All kinds of things to help you better understand the model. Again, TransitionToRIA.com. This is episode #125, which is a nice round number. And interestingly enough, up until episode 125, I've never had to re-record an episode or start over. I just hit record and go. But with 125, I already attempted to record this. I did the entire episode. Once I’m done, I check to make sure the video and audio came through. And turns out, the microphone battery died halfway through the episode. So this is now my second attempt at it. And then to make matters worse, I'm battling a bit of a cough right now. My apologies if my voice is a little froggy and if I must take a quick drink of water every so often. So go figure, that's the one that I must re-record. But here we are, I appreciate you tuning in and hopefully this one records successfully. The topic on this episode is how difficult is it to transition to the RIA model? That of course is a bit of a hard thing to answer because it's arguably subjective. But it can be difficult in different ways. I wanted to make an episode on what some of those are and why your fears of that difficulty are perhaps overblown. Oftentimes, why this process might seem difficult or daunting or overwhelming is because you likely have never done it before. If you’ve been at a wirehouse your entire career, or maybe at an independent broker-dealer, or some combination of those, you've never had to transition into the RIA model. And if you've never done something before, understandably, there's a lot you maybe don't know how it works and that can seem like a difficult task to work through. But just as you help your clients through something they've perhaps never done before - maybe retired and had to roll over their 401K, which is all they've ever known in their life and now they need to save and invest in a different way - it's just a matter of understanding how the process works and how to go through that process. An analogy to appreciate why it might seem difficult, but it's doable, is when you buy a house. Particularly the first time in your life that you've bought a house. That process can seem very difficult, but it’s worthwhile doing. There's a reason you want to buy. Maybe you've rented your whole life and now you want to buy. Or perhaps you've moved and need to buy a new place. That process starts with a lot of research. You research neighborhoods, housing types. Do you want a house, do you want a townhome, do you want a condo? How do they differ, how are they priced different, how is the price impacted by the location? On and on, all kinds of research to do. View remainder of transcription here: https://TransitionToRIA.com/how-diffi... Disclaimer: https://transitiontoria.com/terms/