Funding new RIA startup

5 replies [Last post]
Tiny's picture
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Joined: 2013-03-20

Im currently at a wirehouse (been here about 3 years) and have been looking into starting an RIA. I'm curious to see if others have looked outside their own pockets for startup costs and on going support while building the book. I've got savings in place, but it would most likely not be enough to get me through worst case scenarios. Thanks in advance for any advice.

braveheart's picture
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Joined: 2005-01-06

Tiny, I work with advisors considering going independent and can give you some feedback on your situation. Feel free to PM me or contact via www.GoingIndie.com.
Best,
victoria

Amber_M's picture
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Joined: 2011-12-26

Why would someone give you money for only 3 yrs in the biz?

ProGun1's picture
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Joined: 2013-04-19

Amber_M wrote:
Why would someone give you money for only 3 yrs in the biz?

hahahahahahaha

DonBateman's picture
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Joined: 2012-08-03

DO it

DonBateman's picture
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Joined: 2012-08-03

You have to start somewhere Tiny. If you have 3 years experience maybe you should start working at RIA in your area and get a feel for it. It is different then a wirehouse. At a wirehouse you focus on sales only, at a RIA you will have to become a master of products, tax liability, allocation, theory, stats, etc. I would do it. You will be an actual financial planner. Get your CFP, charge a fee, and forget about trying to sell the highest commission product there is.

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