Benefits of Owning an RIA
We are continually asked what the benefits are to setting up and running an RIA. While it is a completely independent choice and one we cannot make for you, there are substantial benefits to running an RIA. For example:
- RIAs and their investment adviser representatives can create financial plans and charge a fee for those planning efforts.
- An RIA diversifies the products one can offer to clients and avoids the pigeonhole of being a one trick pony.
- It is a natural compliment to an insurance or brokerage business – You don’t have to give up one for the other! You can collect more assets!
- Allows one to charge ongoing fees for portfolio management.
- It creates a tangible/saleable asset so when you want to retire you have your own personal book of clients, not your BDs or some other RIAs, which you can sell.
- Aligns the interests of the client and the adviser. Both of you are interested.
- You can control your career and be your own boss.