Moving your practice from a wirehouse to an independent infrastructure can be overwhelming to think about, but it doesn’t have to be.
To make this simple, there are just a few things that you need to consider:
- Are you going to join an existing RIA or start your own?
- How many clients will be able to move with you?
- What are your income needs?
- What is your average % fee per client?
- How much AUM is portable (assets you can move without breaching a contract)
- How would you like to operate your business, virtually or brick and mortar?
Once you are able to answer these questions, working through the rest can be much easier.