Things to consider before starting a Registered Investment Advisory business

July 23, 2013 by

If you’re an experienced financial professional looking to make the leap into the advisory business, you’re probably wondering which option may be best for you.

Do you become an Investment Adviser Representative (IAR) or a Registered Investment Adviser (RIA)? In my last blog, you learned the benefits of becoming an IAR and how earning a Series 65 license can open up some opportunities for your clients.

The other choice is to start your own RIA. Starting your own RIA has numerous appeals. One of which is creating a business that aligns with your personal goals and style.

Starting an independent advisory business is not without its challenges. But, the lure of the opportunity shouldn’t be overshadowed by the details needed to grow the business.

Here is a short list of items that need to be developed and implemented if you decide to open an RIA. To learn more, download a more comprehensive analysis here.

  • Operations and compliance support
  • Policies and procedures
  • Advertising review and website review
  • Fees and expenses
  • Time
  • Audit support
  • Technology expenses
  • Building an infrastructure
  • Cost of operations vs. marketing
  • Understanding your strengths and weaknesses

If this list causes concern, it may be a better option to affiliate with an established RIA, like Brokers International Financial Services, LLC. When you affiliate with an established RIA, you gain a partner and become part of an organization that has the same interest as yours, without the investment it takes to go it alone.



Securities and investment advisory services offered through Brokers International Financial Services LLC, Panora, Iowa. Member FINRA/SIPC.

Kyle Pieper

Kyle Pieper is the Manager of Business Development for Brokers Financial. He joined the firm in March of 2013. Kyle is responsible for recruiting new advisors and representatives to the firm. He also assists with marketing and partner relationships. He has six years of insurance and investment-related experience as both an advisor and internal sales. When not at work he can be found on a golf course, hunting or in the gym. Securities and investment advisory services offered through Brokers International Financial Services, LLC, Member SIPC, Panora, IA. Brokers International Financial Services, LLC and Brokers International, Ltd are affiliated companies.

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