Wall St. Trading to RIA?

1 reply [Last post]
Khalil's picture
Offline
Joined: 2011-07-26

Hello all,As an introduction, I am a current 2nd year analyst on a trading desk at a top US bank and I want to apologize ahead of time for my relative lack of knowledge.  I have been particularly enticed by the idea of starting my own financial planning/advisory and investment management firm for quite some time.  I've begun my education and have found this website to be a fountain of great information and I will continue my research.  However, there are a number of questions that currently stick out in my head:1.  I wish to offer both investment advisory/management for a fee and insurance products (annuities/life insurance/disability insurance/long-term care insurance).  What is the best arrangement for this type of platform?2. Beyond the series 66/7, what other licenses or certifications would you recommend? (I'm looking at CFA/CFP/ChFC/CLU in particular)3. I have a fair amount of money saved up, but realistically how much should I expect to burn in the first year?4.  Are there any particularly good books/resources that outline the process of starting a RIA/investment management firm?  (Ideally including legal requirements and important regulations to consider)5.  How important is geography and how difficult is it to relocate after a few years?6.  Are there restrictions to employing or formally partnering with estate planning attorneys/accountants/other professionals?7.  Probably most importantly, what other questions should I be asking that I'm too naive to think consider? Thanks a ton for any advice you all can offer!  I know this is the right move for me but trying to position myself for the transition is very difficult while still working 70+ hours a week!

Helping Advisors Go Independent - Liberum Advisor Solutions's picture
Joined: 2011-08-04

Hello, Khalil.  Making the transition from employee to business owner can definitely be an overwhelming task.  Especially when you are dealing with what I call, the Unknown Unknowns; what you don’t know, that you don’t know.I offer consulting services and infrastructure support to investment professionals looking to start or expand their own Registered Investment Advisory- RIA firm.  I would love to set up a time so we can talk about how I can help you with going independent. After our call, I can provide you with a free proposal showing a business model comparison, and revenue and expense detail.    

Please or Register to post comments.

Industry Newsletters
Investment Category Sponsor Links

 

Careers Category Sponsor Links

Sponsored Introduction Continue on to (or wait seconds) ×