Breaking away from a performance-focused culture. Having the freedom to serve your clients the way you think is best. And keeping more of what you earn. These are the three most frequently cited advantages of becoming an RIA. But these are just a few. We'll walk you through more of the benefits so that you can make the most informed decision about your future.
When you run your own firm, you'll be able to decide your own payout. You can keep up to 100% of your revenues, depending on your client needs and business structure. You'll also build equity in a business that you can sell or pass down to family when the time is right.
Imagine having the freedom to determine your own culture. You get to decide where you want to work. How you want to work. And with which clients. You get to choose how you want to spend your time, what direction you want to take your business in, what you stand for as an advisor - the life you want to live is completely up to you.
As an RIA, you decide what products your client needs. In fact, you'll have a fiduciary responsibility to choose the investments that you think are best for your clients. It's a fiduciary standard of care that's gaining support among regulators and advisors alike because it allows greater protections and transparency for investors. Clients also support the fiduciary model - 90% of RIA clients say that they're satisfied with their advisor's decision to move to an independent RIA firm.*
*Advisor Evolution Study, 2010
When you become an RIA, you're in charge of your own destiny. There's nothing holding you back. You'll have the freedom to surround yourself with investment choices and business capabilities that are among the best in the industry. You get to choose the platforms. You get to choose the products. You even get to choose how your business operates and how your time is best spent. In short, you'll be able to create and own the company you've always wanted to work for.
There are a few different options for how you can structure your business.Let's take a look