Getting ready to branch out on your own as a new RIA can be an exciting time. You have spent years developing your skills and knowledge, and now you are interested in creating your firm. While many people are seeking your assistance as a registered financial advisor,...
Break Away From The Pack
Year: 2021
Ways to proactively prepare for an RIA breakaway
Now is the time to start working on a stronger relationship with your current employer, clients, co-workers as well as investigating requirements and options. This season of due diligence will pay dividends down the road when it comes time to make the leap to your own...
Study finds that more financial advisors are looking to break away from large wirehouses
Brokers, dealers and financial advisors that are considering leaving large wirehouses to go independent or join another Registered Investment Advisor (RIA) are often plagued with questions about the pros and cons of doing so. They may find themselves echoing that old...
Would FTC limits on non-compete agreements really change anything?
This month, President Biden announced that he's planning to sign an executive order that would limit the use of non-compete agreements. While the specifics of the order weren’t announced, it would involve asking the Federal Trade Commission (FTC) to develop new rules....
How can you promote inclusiveness and diversity at your firm?
Diversity and inclusion are two concepts that individuals in organizations of all types and sizes across the nation are discussing and implementing from the highest levels on down. There are differing ways that firms are doing this. Most agree, however, on the...
Do you know what it means to engage in unfair business practices?
As someone who works in the financial advising industry, you're likely well aware that there's no real cap on income. You likely know that your ability to continue generating income is contingent upon your ability to keep a steady flow of customers coming in your...
What to do if someone sues your business
Opening the mail to discover someone is trying to sue you can make you wish you had never gone into business. You will go through a range of emotions, from surprise to anger to distress. The important thing is to realize that your first reaction might not be your best...
Many RIAs are breaking away despite favorable conditions
It is unsurprising when a registered investment advisor (RIA) chooses to part ways with a firm where his or her career has stalled or just not risen to desired heights. What is surprising to many in the investment community is that many RIAs are now breaking away from...
What are the SEC’s priorities in 2021?
The Securities and Exchange Commission’s (SEC) Division of Examinations (EXAMS) recently announced its new examination priorities where investment advisers are concerned. While the majority of the exam priorities are the same as in previous years, there are a few...
Can a noncompete agreement stop you from starting your own firm?
Noncompete agreements are less popular than they once were, but they’re sometimes still included in employment contracts. Especially for those working in sensitive positions, including financial professionals with access to client information, noncompete agreements...