Contrary to common belief, achieving independence as a Registered Investment Advisor (RIA) involves more than just financial considerations and a desire to run your own business.
In this week’s edition of Advisor Talk, Elite Consulting Partners CEO Frank LaRosa welcomes back into the studio Vice President and Managing Director of Elite Consulting Partners, Stacey Frank. Together they unravel the intricacies of the term ‘RIA’, shedding light on the multifaceted journey to independence.
Show highlights include:
*Common misconceptions advisors have about going independent.
*A breakdown of the complexities of becoming an RIA, including legal considerations, compliance tasks, and the financial investment required.
*An exploration of the spectrum of RIA models including the advantages and disadvantages of each.
*What advisors need to consider in order to know whether they truly want to become an RIA, or if they just want to affiliate with an existing RIA.
The expertise that Frank and Stacey share over the course of this week’s edition of Advisor Talk is immense. Walk away from this episode with the knowledge that you must carefully assess your business goals, strengths, and growth plans before deciding what kind of move to independence you truly want. Whether it’s full independence or an affiliation model, the journey to RIA demands thoughtful consideration, ensuring a strategic and successful transition in the dynamic world of financial services.
