Starting your own registered investment advisory (RIA) firm can seem like quite the undertaking. However, it is easier than ever to start your own independent RIA firm. The RIA segment is the fastest growing channel in the investment management industry, and for good reason. Some of the reasons include:
- Better fiduciary alignment with your client
- Control of your own destiny
- Evolution of better and more affordable technology tools
When making the decision to go independent and start your own RIA firm, many questions may arise including:
- How much does it cost to start an RIA firm?
- What are the exam requirements to become an investment adviser representative?
- What technology is needed to successfully launch a new investment advisory business?
To help answer these questions and several others, we’ve created a checklist of the Top 10 Steps to Start an RIA Firm. Our checklist will guide firms of all sizes through the process of creating a new RIA firm. As RIA compliance consultants, we are happy to further discuss your plans for starting your own firm. We continue to see the number of new investment advisory firms started each year on the rise. At first glance, the RIA registration process may seem a bit daunting, but we believe the long term rewards well justify the upfront work.
