Why should I consider starting my own Registered Investment Advisor (RIA)?

I'm Brad Wales with Transition To RIA. This is video #1 of the Transition To RIA video series where I answer RIA related questions I get from advisors just like you. On today's question I answer the macro question of why, as a financial advisor, should you be considering transitioning your practice to the Registered Investment Advisor (RIA) model. 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/ 🔹 Contact Me: https://transitiontoria.com/contact/ 🔹 List of all questions I've answered: https://transitiontoria.com/videos/ 🔹 Whitepaper ("11 Ways The Economics Of The RIA Model Are Superior To Other Advisor Affiliation Options"): https://transitiontoria.com/whitepapers/ 🔹 Transcription of video: Why should I consider transitioning to the RIA model? This is the Transition To RIA video series. It is question #1. Hi, I'm Brad Wales with Transition To RIA where I help advisors like you understand everything there is to know about why and how to transition to the RIA model. This is video number one of a new video series I'm rolling out to answer questions that I get from advisors just like you. And so the first one I wanted to answer, because it is arguably the most often question I get, the most macro question of all the ones that could be answered is…."Why should I even consider transitioning to the RIA model?" Maybe you're at a typical wirehouse brokerage firm now or you're at an independent broker-dealer now and…."Why should I even consider transitioning to the RIA model?" I would tell you, the generic salesy answer to that is a couple of things, and you'll see this in advertisements, you'll see it in different kinds of messaging, and it's all very broad. You'll see messages about how in the RIA model you'll have better economics, you'll have more freedom and control, you have the ability to build a business, not a practice. I would tell you, all of those are absolutely correct. If you take the time to learn more about the RIA model, you will see every single one of those is absolutely correct. However, I'm a believer that simply telling you…."you'll have better economics," or, "you'll have more freedom and control," that's great and all, but that doesn't actually teach you anything. It's important that you actually understand exactly why those might be the case. As an example….“Why are the economics better or how are the economics better? How does that work both in my current practice, in the current day state? Does it also impact me one day when I want to sell my practice? Why are these economics better and will that relate to me as well?” "This additional freedom and control, that sounds great, but really, what additional freedom and control will I have versus what I have now?" It's important you actually learn what each of those steps are and what each of those options are available to you. And then with that, and I'm a big believer, to be fair, a lot of benefits, a lot of pros to transition into the RIA model. To be fair though, there are additional responsibilities as well. I think it's only fair - and you don't see this as often in these advertisements - I think it's important that you learn what those responsibilities are as well. I would tell you, because of the industry trends you see happening for a number of years now with this tidal wave of advisors moving from that more captive employee environment or broker-dealer environment into the RIA model, that the benefits do far outweigh those additional responsibilities. It's nonetheless important to be aware of what those responsibilities are. I would tell you, if all of this, the economics and the freedom and control and the responsibilities, if that was simple to answer, I could answer it all right here in a single video. The reality is, there's much more to it. There are a lot of nuances to some of these different factors. So I'm not even going to attempt to answer everything in this one video. That's why I've made this video series to address all kinds of different aspects of the RIA model. Each one of them will be very detailed questions and very detailed answers. These are questions that I have got from advisors like you that want to learn how this model works. To the degree I don't answer one of the questions you'd like to know, I'd sure love you to reach out to me and I'll certainly add it to the list. But know, these are actual questions from your peers that I've received over time. Con't...... See rest of transcription here: https://transitiontoria.com/why-shoul... Disclaimers: https://transitiontoria.com/terms/