Transition To RIA Podcast

Mar 13 2025 119 ep. 23 mins 8

Transition To RIA Podcast artwork

The Transition To RIA Podcast was named to the first ever Top Podcasts for Financial Advisors list by Kitces. Brad Wales, founder of Transition To RIA (TransitionToRIA.com) discusses WHY and HOW to transition your financial advisory practice to the Registered Investment Advisor ("RIA") model. This question/answer style podcast pulls directly from the hundreds of RIA related questions Brad has been asked over the years. With 20+ years industry experience, including direct RIA related roles in compliance, finance and business development, Brad has become the go-to expert for everything financial advisors want to learn and understand about the RIA model. Transition To RIA is completely independent of any one solution, thus Brad is able to provide impartial advice and guidance across all of the possible pathways into the model.

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Q121 - Do I Have To Drop My Series 7 If I Go RIA?

Mar 13 2025 20 mins

You studied for months to take the Series 7.You anxiously sat through the multi-hour test. Perhaps with your livelihood on the line.You finished the test and nervously awaited the result.You passed!Years, if not decades have now since past.You’re considering transitioning your practice to the RIA model, but don’t want to “lose” the 7 you worked so hard for all those years a

Q120 - Are There Platform Fees In The RIA Model?

Feb 25 2025 18 mins

“Platform fees” in our industry are the “resort fees” of the hotel industry.Just as a hotel room rate can be distorted by the addition of mandatory resort fees……payouts (particularly at independent broker/dealer models) are frequently distorted by additional platforms fees.The existence of a fee by itself is not necessarily a bad thing, provided the value and services r

Q119 - How To Make Up For Lost Deferred Comp When Transitioning To The RIA Model?

Feb 11 2025 25 mins

If you are an advisor at a firm that utilizes deferred compensation as part of the comp plan, ask yourself why your firm is doing that.If the value and resources they provide you are as superior as they claim to be, why would they need arbitrary barriers to keep you from leaving?Wouldn’t you simply want to stay?Regardless of the spin, deferred compensation is a retention tool to

Q118 - Is My Practice Too Large To Join An RIA?

Jan 23 2025 22 mins

I am often asked, “How large a practice do I need, to have my own RIA?”Equally important is the other end of the spectrum as well, “Is my practice too large to potentially join an existing RIA?”There are three main pathways to transition your practice to the RIA model:* Start your own RIA.* Join an existing RIA.* Utilize a solution that is essentially in the middle of these

Q117 - How To Solve For Your Remaining Commission Assets?

Jan 07 2025 26 mins

A common misconception about the RIA model is that you must be 100% fee-only with your practice.While many RIAs are indeed 100% fee-only, and others aspire to eventually be, there is no requirement to do so.Many RIAs operate under a hybrid arrangement, allowing them to continue servicing legacy and/or new brokerage relationships.Other RIAs work to slowly transition their current fe

Q116 - How To Explain To Clients Your Transition To The RIA Model?

Dec 10 2024 24 mins

You’ve spent months researching the RIA model.Months performing due diligence.Months planning for the actual transition.The day to transition arrives.You resign from your firm.You pick up the phone and call your first client to tell them about your new plans.But what do you say?How should you say it?What might your clients say?In this episode of the Transition To RIA question and

Q115 - How Does An RIA Payout Compare To A Broker Dealer Payout?

Nov 21 2024 20 mins

What is the payout in the RIA model?Simple question, not so simple answer.To perform an accurate comparison, you must:* Properly calculate your current payout.* Understand how payouts are expressed in the RIA model (spoiler: there is far less uniformity in the RIA space.)* Consider what value is provided to you for the payout, and what you’re responsible for sourcing yourself.* C

Q114 - What Are The Most Stressful Parts Of Starting An RIA?

Oct 31 2024 20 mins

Transitioning your practice to the RIA model involves a lot of work, and at times, a fair amount of stress.But ask anyone that has made the transition, and they’ll tell you the destination is worth the journey.You should prepare yourself, though, for what the journey will entail.In this episode of the Transition To RIA question & answer series I explain what the most stressful pa

Q113 - Can I Join A Custodian's Client Referral Program?

Oct 15 2024 14 mins

If you start your own RIA, will you be able to participate in your custodian’s client referral program?First starters, do you know what these programs are?Or which custodians have them?Or who is eligible, and likely to be able to participate in them?In this episode of the Transition To RIA question & answer series I address these questions, and more!Come take a listen!P.S. Prefer

Q112 - What Motivates Advisors To Transition To The RIA Model?

Sep 24 2024 25 mins

Whether in our personal or professional lives, most everything in life revolves around motivations.* What motivates you to run your advisory practice as you do?* What motivates you to pursue certain hobbies and passions?* What motivates your kids to make the decisions they do?When financial advisors and teams reach out to me to explore the RIA model, I typically start by asking wha