Difference Between A Hybrid RIA And A Hybrid Broker-Dealer? скачать в хорошем качестве

Difference Between A Hybrid RIA And A Hybrid Broker-Dealer?

I'm Brad Wales with Transition To RIA (TransitionToRIA.com). This is episode #101 of my question and answer series where I answer RIA related questions I get from advisors just like you. “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 “hybrid” solution. Their version of hybrid though might be very different than what you are assuming they are referring to. In this episode of the Transition To RIA question & answer series I explain how these different “hybrid” solutions vary. Come take a look! 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/what-is-t... 🔹 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: What is the difference between a hybrid RIA and a hybrid broker-dealer? That is today's question on the Transition To RIA question and answer series. It is episode #101. 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 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, information on how to contact me. Again, you can find all of that at TransitionToRIA.com. On today's episode, we're going to talk about, what is the difference between a hybrid RIA and a hybrid broker-dealer? For starters, always be careful when you hear the word “hybrid” used in the marketplace. Another word you might have heard me talk about similarly is the different ways the word TAMP, Turnkey Asset Management Program, is used in the marketplace. I did an episode on what is a TAMP. The point being whether it's the word hybrid or the word TAMP, you must be careful because for better or worse, in our marketplace, in our industry, both of those words are used in several different ways alluding to several different kinds of solutions. It doesn't necessarily equate to exactly what you might think it is equating to. So, part of what we're going to talk about on this episode is what exactly is a hybrid, and then the difference between a hybrid RIA and a hybrid broker-dealer. For starters, I'll give a quick explanation of what hybrid is. I've done a separate episode on what is a hybrid if you want to do a deep dive on it. There is no universal definition for what a hybrid is, and it's used in several different ways. But it's commonly accepted, and there's different variations, different flavors of this, that it refers to a financial advisor that's essentially wearing two hats. And for most financial advisors in the marketplace, this is the case. If you are at a wirehouse firm or an independent broker-dealer firm, typically, you are wearing perhaps two hats. You have your Series 7, which makes you a “registered representative” of the firm's broker-dealer. That's what enables you to offer commission-based solutions to your clients in a brokerage account on a commission basis. You might also be wearing, which many of you are, the hat of an “investment advisor representative” under your firm's RIA. That enables you to offer fee-based services and open accounts on a fee basis for your clients. Those two hats involved different regulatory bodies that govern them, and you are wearing two different hats. Now, you might have some clients that are only commission clients. You might have some clients that are only fee-based clients. Or you might have some clients that have one of each type of account. Regardless, if you are operating under both of those worlds, that is arguably a hybrid relationship, meaning you are not only able to offer fee-based solutions, you're able to offer commission-based solutions as well. It's tricky because with wirehouses, regional broker-dealers, independent broker-dealers, we generally refer to them as “broker-dealers.” And there are some that that is all they are. They are a broker-dealer. They're not duly registered as an RIA. They don't have an RIA on the side. They are solely a broker-dealer. Con't.... View remainder of transcription here: https://TransitionToRIA.com/what-is-t... Disclaimer: https://transitiontoria.com/terms/