Jeff & Jay Fong: Our journey to independence

Fear of the unknown is part of any worthwhile life change. It’s important to remember that you don’t have to do this on your own. We found that with the right custodian, we had as much—if not more—support than we did in the wirehouse.

Your custodian isn’t your only resource, though. Network with peers who are already in the RIA model to hear about their ups and down as they transitioned and grew. Be sure to ask them about their custodian and find out what they like and dislike most. Once you’ve gathered enough information from current RIAs, you should feel more confident going into your own transition. We found that with the proper insights, jumping into the RIA model was simpler than we thought. We only wish we would have done it sooner!