Should I Join An Independent Broker-Dealer First Or Should I Go Straight To The RIA Model? скачать в хорошем качестве

Should I Join An Independent Broker-Dealer First Or Should I Go Straight To The RIA Model?

I'm Brad Wales with Transition To RIA (TransitionToRIA.com). This is episode #62 of my question and answer series where I answer RIA related questions I get from advisors just like you. I have a lot of conversations with advisors that are in the wirehouse W2 type model, who want to move into a more independent model. Sometimes the default reaction they have is, "Maybe I should go into the independent broker-dealer model first and then move into the RIA model later." The phrase I sometimes hear is, "Maybe it's a step too far to go from this employee model I’m in now, all the way to the RIA model." I challenge that by asking, "Why is that? Why do you feel you need a stepping stone to get to where you eventually want to get to?" On this episode I go into some of the reasons that I am given as to why some advisors feel they think they should go to an independent broker-dealer model first before they get to the RIA model.  And why that way of thinking is usually based on misconceptions. 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/should-i-... 🔹 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: Should I join an independent broker-dealer first or should I go straight to the RIA model? That is today's question on the Transition To RIA question and answer series and it's question #62. 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 are not already there, if you head over to TransitionToRIA.com, you can find all the resources I've put out. This entire question and answer series in video format, or podcast format if you prefer. I also have whitepapers. All kinds of resources to help you better understand the RIA model. Again, TransitionToRIA.com. On today's episode we're going to be talking about if you're in the employee model now, the wirehouse model now, and you want to make a move to an independent channel, should you go to an independent broker-dealer or should you go to the RIA model? I recently did an episode you might've caught about the differences between the wirehouse / W2 model and the RIA model. I went through several variables with that. I encourage you to check out that episode as well. So, I thought, maybe I should also do one along the same lines of what's the differences between the independent broker-dealer model and the RIA model? That's what we're going to be talking about here. I have a lot of conversations with advisors that are in the wirehouse W2 type model, who want to move into a more independent model. Sometimes the default reaction they have is, "Well, maybe I should do the independent broker-dealer model first and then move into the RIA model later." The phrase I sometimes hear is, "Maybe it's a step too far to go from this kind of captive employee model I’m in now, all the way to the RIA model." I challenge that by asking, "Why is that? Why do you feel you need a stepping stone to get to where you eventually want to get to?" So, on this episode, I’m going to go into some of the reasons that I am given as to why some advisors feel they think they should go to an independent broker-dealer model first before they get to the RIA model. I have commission business. The first one is the commission piece. If you look at your book of business, how much is advisory assets and how much is commission assets? There is a point where it might make sense to go to the independent broker-dealer model not just initially but maybe forever. A big misconception, and I've talked about this on a number of episodes, is the thought that you have to be 100% fee-only to go into the RIA model. That is absolutely not the case. I've done all kinds of episodes on this. One episode I explained the “hybrid” approach. The most recent episode I did was on the different solutions you can use to accommodate commission business in the RIA model. Con't.... View remainder of transcription here: https://TransitionToRIA.com/should-i-... Disclaimer: https://transitiontoria.com/terms/