If you’re new to the RIA biz, you’ve probably got a lot on your plate. From compliance issues to building your client base, there’s a lot to consider. Another important piece of the puzzle is the role technology will play at your firm. Technology will be a necessity for some of the functions of your firm, and a nicety for others. We’ve created this technology guide to help you decide which tech is right for your firm.
With the DOL’s new fiduciary ruling, now is a better time than ever before to take the plunge and become an RIA. But breaking away from a big brokerage firm isn’t easy. And for some, being a breakaway broker might not be the right fit. That’s why we here at Bridge have compiled some of best articles to read if you’re considering breaking away.
Current research estimates that independent RIAs and dually registered firms manage 23% of assets, an impressive market share for independently based firms. In fact, this number is expected to rise to almost 28% by 2018.
While creating an RIA can be a lucrative and rewarding career move, it’s no small undertaking. Navigating the ins-and-outs of what it takes to operate an RIA can be difficult and confusing. Luckily, there are a slew of resources available to aid financial professionals interested in creating an RIA.
So, you’re considering breaking away to be your own boss and do things your way. You’re probably asking yourself: is becoming an RIA right for me? Becoming an independent financial advisor could be the biggest career move you make in your life. While some are enticed by the promise of a higher salary, there are many other benefits to taking the plunge and becoming an RIA.