Podcast
Transition To RIA Podcast
Hosted by Brad Wales · EN
The Transition To RIA Podcast is named by Kitces as a Top Podcast for Financial Advisors!
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.
25episodes
Episodes
Newest firstAll episodes
Q148 - How Much Does A Custodian Cost?
3w ago00:27:23Tap to summarizeWhether you start your own RIA, or join an existing one, choosing which custodian to use is an important part of the decision process.As with choosing most solution providers for your practice, many variables should be evaluated. Price is one of them.So how much does a custodian cost?For better or worse, there is a very nuanced answer to that.On this episode (#148) of the Transition To RIA question and answer series, I explain what you should expect to pay (or not) for custodial services.Come take a listen!P.S. Prefer video? You can find this entire series in video format on Youtube. Search for the TRANSITION TO RIA channel.Show notes: https://TransitionToRIA.com/how-much-does-a-custodian-cost/About Host: Brad Wales is the founder of Transition To RIA, where he helps financial advisors between $50M and $1B understand everything there is to know about WHY and HOW to transition their practice to the Registered Investment Advisor (RIA) model. Brad has 20+ years of industry experience, including direct RIA related roles in Compliance, Finance and Business Development. He has an MBA and has held the 4, 7, 24, 63 & 65 licenses. The Transition To RIA website (TransitionToRIA.com) has a large catalog of free videos, articles, whitepapers, as well as other resources to help advisors understand the RIA model and how it would apply to their unique circumstances.
Transcribe →Q147 - Can I Service HNW And UHNW Clients As An RIA?
Apr 3000:21:22Tap to summarizeOver the past decade, all the (now tired) excuses for why advisors shouldn't move to the RIA model have fallen.To name a few:"The technology is not as good.""You won't have access to the same level of investment solutions.""Clients want the big brand name on the door."Not only are these arguments no longer true, but the RIA model now generally provides a superior solution.But what about servicing HNW and UHNW clients?Can such clients be accommodated the same, or even better, in the RIA model?In this episode (#147) of the Transition To RIA question & answer series, I explain how supporting such clients is not just possible, but generally more favorable in the RIA model.Come take a listen!P.S. Prefer video? You can find this entire series in video format on Youtube. Search for the TRANSITION TO RIA channel.Show notes: https://TransitionToRIA.com/can-i-service-high-net-worth-and-ultra-high-net-worth-clients-as-an-ria/About Host: Brad Wales is the founder of Transition To RIA, where he helps financial advisors between $50M and $1B understand everything there is to know about WHY and HOW to transition their practice to the Registered Investment Advisor (RIA) model. Brad has 20+ years of industry experience, including direct RIA related roles in Compliance, Finance and Business Development. He has an MBA and has held the 4, 7, 24, 63 & 65 licenses. The Transition To RIA website (TransitionToRIA.com) has a large catalog of free videos, articles, whitepapers, as well as other resources to help advisors understand the RIA model and how it would apply to their unique circumstances.
Transcribe →Q146 - How Long Does It Take To Register An RIA?
Apr 1600:19:57Tap to summarizeI am often asked how long it takes to register an RIA.The simple answer is typically 45-90 days, though in some scenarios it could take significantly longer.Equally important is knowing when (and how) to file in relation to when you plan to launch your firm.Furthermore, this is just one step in an overall transition process that typically takes 6-9 months.On this episode (#146) of the Transition To RIA question and answer series I explain the variables that determine the timeline for registering your own RIA.Come take a listen!P.S. Prefer video? You can find this entire series in video format on Youtube. Search for the TRANSITION TO RIA channel.Show notes: https://TransitionToRIA.com/how-long-does-it-take-to-register-a-ria/About Host: Brad Wales is the founder of Transition To RIA, where he helps financial advisors between $50M and $1B understand everything there is to know about WHY and HOW to transition their practice to the Registered Investment Advisor (RIA) model. Brad has 20+ years of industry experience, including direct RIA related roles in Compliance, Finance and Business Development. He has an MBA and has held the 4, 7, 24, 63 & 65 licenses. The Transition To RIA website (TransitionToRIA.com) has a large catalog of free videos, articles, whitepapers, as well as other resources to help advisors understand the RIA model and how it would apply to their unique circumstances.
Transcribe →Q145 - When Do You Need Legal Advice As Part Of An RIA Transition?
Mar 3100:25:22Tap to summarizeWhen I explain to advisors they likely will want legal advice regarding navigating their departure from their current firm, I sometimes hear a range of responses:“My buddy left the firm last year, and I’m just going to follow what he did.”“I’m already independent, so none of that applies to me.”“I made a transition 7 years ago, so I already have it figured out.”In reality, most advisors, regardless of their current affiliation model, have at least one (if not multiple) reasons to need such advice: non-solicits, non-competes, Reg SP, broker protocol, deferred comp, forgivable loans, RSUs, taking team members with them, etc.On this episode (#145) of the Transition To RIA question & answer series I explain why and how such legal advice is part of a typical transition.Come take a listen!P.S. Prefer video? You can find this entire series in video format on Youtube. Search for the TRANSITION TO RIA channel.Show notes: https://TransitionToRIA.com/when-do-you-need-legal-advice-as-part-of-an-ria-transition/About Host: Brad Wales is the founder of Transition To RIA, where he helps financial advisors between $50M and $1B understand everything there is to know about WHY and HOW to transition their practice to the Registered Investment Advisor (RIA) model. Brad has 20+ years of industry experience, including direct RIA related roles in Compliance, Finance and Business Development. He has an MBA and has held the 4, 7, 24, 63 & 65 licenses. The Transition To RIA website (TransitionToRIA.com) has a large catalog of free videos, articles, whitepapers, as well as other resources to help advisors understand the RIA model and how it would apply to their unique circumstances.
Transcribe →Q144 - How Does An RIA Compare To An Independent Broker-Dealer?
Mar 1900:22:49Tap to summarizeI often encounter a phenomenon with long-tenured advisors.As they've been born and bred at a broker-dealer, they simply assume they always need a broker-dealer.And these are advisors whose practices have become nearly, if not entirely fee-based.Yet their ingrained DNA tells them a broker-dealer is still required.So when considering transitioning their practice to an independent model, they only consider broker-dealer solutions.That is a classic case of the tail wagging the dog.With a predominantly fee-based practice, they need an RIA, not a broker-dealer.On this episode (#144) of the Transition To RIA question & answer series I explain how an RIA compares to an Independent Broker-Dealer, and why if you have a primarily fee-based practice you should not let the tail wag the dog.Come take a listen!P.S. Prefer video? You can find this entire series in video format on Youtube. Search for the TRANSITION TO RIA channel.Show notes: https://TransitionToRIA.com/how-does-an-ria-compare-to-an-independent-broker-dealer/About Host: Brad Wales is the founder of Transition To RIA, where he helps financial advisors between $50M and $1B understand everything there is to know about WHY and HOW to transition their practice to the Registered Investment Advisor (RIA) model. Brad has 20+ years of industry experience, including direct RIA related roles in Compliance, Finance and Business Development. He has an MBA and has held the 4, 7, 24, 63 & 65 licenses. The Transition To RIA website (TransitionToRIA.com) has a large catalog of free videos, articles, whitepapers, as well as other resources to help advisors understand the RIA model and how it would apply to their unique circumstances.
Transcribe →Q143 - What Is The Minimum AUM Needed To Have Your Own RIA?
Mar 500:24:20Tap to summarizeWhat is the minimum AUM needed to have your own RIA?Beware of anyone that gives you an immediate answer, with an immediate AUM figure to that question.There are often bias or ulterior motives behind such quick declarations.While the regulatory answer is $0 AUM needed to start an RIA, there are reasonable arguments to be made regarding at what AUM level it begins to make sense to do so.But even then, what makes sense for one advisor, might not make sense for another.On this episode (#143) of the Transition To RIA question & answer series I discuss the variables involved with what size your practice should be before considering starting your own RIA.Come take a listen!P.S. Prefer video? You can find this entire series in video format on Youtube. Search for the TRANSITION TO RIA channel.Show notes: https://TransitionToRIA.com/what-is-the-minimum-aum-needed-to-have-your-own-ria/About Host: Brad Wales is the founder of Transition To RIA, where he helps financial advisors between $50M and $1B understand everything there is to know about WHY and HOW to transition their practice to the Registered Investment Advisor (RIA) model. Brad has 20+ years of industry experience, including direct RIA related roles in Compliance, Finance and Business Development. He has an MBA and has held the 4, 7, 24, 63 & 65 licenses. The Transition To RIA website (TransitionToRIA.com) has a large catalog of free videos, articles, whitepapers, as well as other resources to help advisors understand the RIA model and how it would apply to their unique circumstances.
Transcribe →Q142 - How Do I Evaluate An RIA To Join?
Feb 1900:26:55Tap to summarizeThere are multiple pathways into the RIA model.Each with pros and cons.One of the pathways is to join an existing RIA.When I first note the latter to advisors, there is often a misconception about what that entails.I’ll often hear… “I don’t want to sell my practice.”That “flavor” of RIA exists, but it’s by no means the only flavor available.In fact, there are over a dozen variables that distinguish one RIA from another.Some RIA offerings will be of no interest to you, whereas others could be very appealing.In this episode (#142) of the Transition To RIA question & answer series I explain how to evaluate an RIA to potentially join.Come take a listen!P.S. Prefer video? You can find this entire series in video format on Youtube. Search for the TRANSITION TO RIA channel.Show notes: https://TransitionToRIA.com/how-do-i-evaluate-an-ria-to-join/About Host: Brad Wales is the founder of Transition To RIA, where he helps financial advisors between $50M and $1B understand everything there is to know about WHY and HOW to transition their practice to the Registered Investment Advisor (RIA) model. Brad has 20+ years of industry experience, including direct RIA related roles in Compliance, Finance and Business Development. He has an MBA and has held the 4, 7, 24, 63 & 65 licenses. The Transition To RIA website (TransitionToRIA.com) has a large catalog of free videos, articles, whitepapers, as well as other resources to help advisors understand the RIA model and how it would apply to their unique circumstances.
Transcribe →Q141 - Is It Easier To Acquire An Existing RIA Or Register A New One?
Feb 500:14:10Tap to summarizeShould you register a new RIA, or simply buy an existing RIA?If you are considering transitioning your practice to the RIA model, you have multiple pathways to choose from.Some advisors conclude they want to have their own RIA, others conclude joining an existing RIA offering is the better fit, etc.If having your own RIA is your chosen path, you might wonder if simply buying an RIA (as part of your transition) is the easier route to take to get into the model, versus going through the process of formally registering a new RIA.As I explain in this episode (#141) of the Transition To RIA question and answer series, it is generally advisable in this scenario to register a new RIA, versus buying an existing RIA.Come take a listen!P.S. Prefer video? You can find this entire series in video format on Youtube. Search for the TRANSITION TO RIA channel.Show notes: https://TransitionToRIA.com/is-it-easier-to-acquire-an-existing-ria-or-register-a-new-one/About Host: Brad Wales is the founder of Transition To RIA, where he helps financial advisors between $50M and $1B understand everything there is to know about WHY and HOW to transition their practice to the Registered Investment Advisor (RIA) model. Brad has 20+ years of industry experience, including direct RIA related roles in Compliance, Finance and Business Development. He has an MBA and has held the 4, 7, 24, 63 & 65 licenses. The Transition To RIA website (TransitionToRIA.com) has a large catalog of free videos, articles, whitepapers, as well as other resources to help advisors understand the RIA model and how it would apply to their unique circumstances.
Transcribe →Q140 - How Does Transitioning To Another Wirehouse Compare To Transitioning To The RIA Model?
Jan 2200:33:17Tap to summarizeEvery year many financial advisors transition their practice from one wirehouse to another.Provided they’ve done their research and concluded that such a path was best for them, their practice, and their clients, there is nothing wrong with that.All too often though, that research does not include understanding all potential options.Thus, they end up making a less than informed decision about something that will impact the balance of their career.In this episode of the Transition To RIA question & answer series (#140) I work to expand such knowledge by explaining how transitioning to another wirehouse compares to transitioning to the RIA model.Come take a listen!P.S. Prefer video? You can find this entire series in video format on Youtube. Search for the TRANSITION TO RIA channel.Show notes: https://TransitionToRIA.com/how-does-transitioning-to-another-wirehouse-compare-to-transitioning-to-the-ria-model/About Host: Brad Wales is the founder of Transition To RIA, where he helps financial advisors between $50M and $1B understand everything there is to know about WHY and HOW to transition their practice to the Registered Investment Advisor (RIA) model. Brad has 20+ years of industry experience, including direct RIA related roles in Compliance, Finance and Business Development. He has an MBA and has held the 4, 7, 24, 63 & 65 licenses. The Transition To RIA website (TransitionToRIA.com) has a large catalog of free videos, articles, whitepapers, as well as other resources to help advisors understand the RIA model and how it would apply to their unique circumstances.
Transcribe →Q139 - What Time Of Year Should I Transition To The RIA Model?
Jan 600:25:33Tap to summarizeIf you were to transition your practice to the RIA model, is there is an ideal time of the year to make the change?Before considering calendar variables, though, you first want to consider factors pertinent to your unique scenario including potential vesting cycles on deferred comp, tranches on forgivable loans, etc.It is then important to be aware of, and understand why there are certain times of year that advisors/teams generally seek to avoid making a transition during.On this episode (#139) of the Transition To RIA question & answer series I address these variables and discuss what goes into a timing decision on when to make a transition.Come take a listen!P.S. Prefer video? You can find this entire series in video format on Youtube. Search for the TRANSITION TO RIA channel.Show notes: https://TransitionToRIA.com/what-time-of-year-should-i-transition-to-the-ria-model/About Host: Brad Wales is the founder of Transition To RIA, where he helps financial advisors between $50M and $1B understand everything there is to know about WHY and HOW to transition their practice to the Registered Investment Advisor (RIA) model. Brad has 20+ years of industry experience, including direct RIA related roles in Compliance, Finance and Business Development. He has an MBA and has held the 4, 7, 24, 63 & 65 licenses. The Transition To RIA website (TransitionToRIA.com) has a large catalog of free videos, articles, whitepapers, as well as other resources to help advisors understand the RIA model and how it would apply to their unique circumstances.
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