61 episodes

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 nearly 20 years industry experience, including direct RIA related roles in compliance, finance and business development, Brad has become the go-to expert for everything advisors want to learn and understand about the RIA model. Brad's firm, Transition To RIA is completely independent of any one solution, thus he is able to provide impartial advice and guidance across all of the possible pathways into the model.

Transition To RIA Podcast Brad Wales

    • Business
    • 5.0 • 5 Ratings

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 nearly 20 years industry experience, including direct RIA related roles in compliance, finance and business development, Brad has become the go-to expert for everything advisors want to learn and understand about the RIA model. Brad's firm, Transition To RIA is completely independent of any one solution, thus he is able to provide impartial advice and guidance across all of the possible pathways into the model.

    Q63 - What Are The Largest Expenses Of Running An RIA?

    Q63 - What Are The Largest Expenses Of Running An RIA?

    Don't confuse the expenses of running an RIA as being "new" expenses compared to what you have now.Depending on your current affiliation model, you are likely already paying these expenses, they are just embedded in the payout you receive.In the RIA model, you have much more control over how to manage these expenses.....TO YOUR BENEFIT!In the latest episode of my RIA explanatory series, I discuss five of the largest expense items of a modern day advisory firm, and how to best manage them:* Office space* Team members* Technology* TAMP* ComplianceCome take a listen!Show notes: https://TransitionToRIA.com/what-are-the-largest-expenses-of-running-an-riaAbout Host: Brad Wales is the founder of Transition To RIA, where he helps financial advisors to learn and understand everything there is to know about WHY and HOW to transition their practice to the Registered Investment Advisor (RIA) model. Brad has nearly 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. On his website (TransitionToRIA.com) he has a large catalog of free videos, whitepapers, as well as other resources to help advisors fully understand the RIA model and how it would apply to their unique circumstances.

    • 25 min
    Q62 - Should I Join An Independent Broker-Dealer First Or Should I Go Straight To The RIA Model?

    Q62 - Should I Join An Independent Broker-Dealer First Or Should I Go Straight To The RIA Model?

    I have a lot of conversations with advisors that are in the wirehouse W2 type model, who want to move into a more independent model.Sometimes the default reaction they have is, "Maybe I should go into the independent broker-dealer model first and then move into the RIA model later." The phrase I sometimes hear is, "Maybe it's a step too far to go from this employee model I’m in now, all the way to the RIA model."I challenge that by asking, "Why is that? Why do you feel you need a stepping stone to get to where you eventually want to get to?"On this episode I go into some of the reasons that I am given as to why some advisors feel they think they should go to an independent broker-dealer model first before they get to the RIA model. And why that way of thinking is usually based on misconceptions.Come take a listen!Show notes: https://TransitionToRIA.com/should-i-join-an-independent-broker-dealer-first-or-should-i-go-straight-to-the-ria-modelAbout Host: Brad Wales is the founder of Transition To RIA, where he helps financial advisors to learn and understand everything there is to know about WHY and HOW to transition their practice to the Registered Investment Advisor (RIA) model. Brad has nearly 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. On his website (TransitionToRIA.com) he has a large catalog of free videos, whitepapers, as well as other resources to help advisors fully understand the RIA model and how it would apply to their unique circumstances.

    • 30 min
    Q61 - What Should I Do With My Legacy Commission Business?

    Q61 - What Should I Do With My Legacy Commission Business?

    A common misconception about the Registered Investment Advisor ("RIA") model is that you must be 100% fee-only to transition your practice to it.Most advisors, at the time of transitioning, are in fact not 100% fee-only. Many never plan to be going forward either.While the assets under the RIA itself are fee based accounts, there are several solutions to accommodate the existing commission part of your practice.In this episode of my RIA explanatory series, I address five different approaches for your commission assets:* Walk away* Convert* Sell* Use an RIA-friendly broker/dealer* Park and adviseCome take a listen!Show notes: https://TransitionToRIA.com/what-should-i-do-with-my-legacy-commission-business/About Host: Brad Wales is the founder of Transition To RIA, where he helps financial advisors to learn and understand everything there is to know about WHY and HOW to transition their practice to the Registered Investment Advisor (RIA) model. Brad has nearly 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. On his website (TransitionToRIA.com) he has a large catalog of free videos, whitepapers, as well as other resources to help advisors fully understand the RIA model and how it would apply to their unique circumstances.

    • 22 min
    Q60 - How Does A Wirehouse Compare To An RIA?

    Q60 - How Does A Wirehouse Compare To An RIA?

    Are you a financial advisor at a wirehouse (or W2 firm) currently?Are you considering moving your practice to one?There are fundamental differences in the business model of a wirehouse firm, and the RIA model.In the latest episode of my RIA explanatory series I explain these differences and how they impact you, and your clients.Topics include the differences in:* Compensation* Technology* Compliance* Real Estate* TAMPsCome take a listen!Show notes: https://TransitionToRIA.com/how-does-a-wirehouse-compare-to-an-riaAbout Host: Brad Wales is the founder of Transition To RIA, where he helps financial advisors to learn and understand everything there is to know about WHY and HOW to transition their practice to the Registered Investment Advisor (RIA) model. Brad has nearly 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. On his website (TransitionToRIA.com) he has a large catalog of free videos, whitepapers, as well as other resources to help advisors fully understand the RIA model and how it would apply to their unique circumstances.

    • 26 min
    Q59 - What Is An RIA Technology Stack?

    Q59 - What Is An RIA Technology Stack?

    At it's core, transitioning to the RIA model is simply an exercise in identifying what your current firm provides for you, and determining how to replicate those resources on your own.Technology is a key part of that.In the RIA model, the various technology solutions needed to run a modern day advisory practice, are brought together into a "tech stack".In the latest episode of my RIA explanatory series I explain, among other things:* What a tech stack is.* The types of solutions that make up a tech stack.* Important considerations to be aware of when designing a tech stack.* Why technology is so important for your practice.Come take a listen!Show notes: https://TransitionToRIA.com/what-is-an-ria-technology-stackAbout Host: Brad Wales is the founder of Transition To RIA, where he helps financial advisors to learn and understand everything there is to know about WHY and HOW to transition their practice to the Registered Investment Advisor (RIA) model. Brad has nearly 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. On his website (TransitionToRIA.com) he has a large catalog of free videos, whitepapers, as well as other resources to help advisors fully understand the RIA model and how it would apply to their unique circumstances.

    • 19 min
    Q58 - What Is An Outsourced Chief Compliance Officer?

    Q58 - What Is An Outsourced Chief Compliance Officer?

    Every Registered Investment Advisor is required to have a named Chief Compliance Officer (CCO).Whether you are thinking of starting your own RIA, or already have one and would prefer to outsource more of the compliance responsibilities, an outsourced CCO solution is worth considering.In the latest episode of my RIA Question & Answer series I am joined by Jeff Chapman of Dinsmore Compliance Services where we discuss, among other things:* What compliance responsibilities do RIAs have in general?* How do most RIAs fulfill those responsibilities?* What is an outsourced CCO solution?* What size RIA does an outsourced solution make sense for, and what does it cost?Come take a listen!Show notes: https://transitiontoria.com/what-is-an-outsourced-chief-compliance-officerAbout Host: Brad Wales is the founder of Transition To RIA, where he helps financial advisors to learn and understand everything there is to know about WHY and HOW to transition their practice to the Registered Investment Advisor (RIA) model. Brad has nearly 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. On his website (TransitionToRIA.com) he has a large catalog of free videos, whitepapers, as well as other resources to help advisors fully understand the RIA model and how it would apply to their unique circumstances.

    • 30 min

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