The financial advisory industry as we know it may be in jeopardy, due to a proposed Department of Labor (DOL) employment rule pertaining to an employee or independent contractor classification under the Fair Labor Standards Act (FLSA). Scheduled for approval on May 6th, the proposed rule is meant to prevent worker exploitation and employee misclassification and… Continue reading DOL Employment Rule Threatens Future Of Independent Advisors
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Switching to RIA
Are you getting tired of your broker-dealer and the Financial Industry Regulatory Authority’s (FINRA) pricey and aggressive enforcement strategies? Have you thought about working for or founding your own registered investment adviser (RIA) company but are unsure if it’s the best choice for you? If so, you are not by yourself. More and more advisors… Continue reading Switching to RIA
Reviewing FINRA’s Annual Report Might Just Make You Want To Start An RIA
FINRA just released its annual report. Every year at AdvisorLaw, I have a hard time reconciling the sheer amount of money floating around this self-regulatory organization (SRO) and the relatively paltry results it achieves with that handsome sum. Once you connect the dots, it makes sense that more and more frustrated advisors are fleeing the expensive and… Continue reading Reviewing FINRA’s Annual Report Might Just Make You Want To Start An RIA
Can I form an RIA prior to leaving my current firm?
There are a number of important factors that an advisor needs to consider when deciding to leave a firm to form their own RIA. On this week’s Ask An AdLaw Expert, we’re talking with RIA superstar, Michelle Atlas-Quinn, J.D., about how advisors can mitigate time spent and risk assumed, without consequence, while becoming properly licensed. Learn… Continue reading Can I form an RIA prior to leaving my current firm?
How to Start an RIA
As the lion’s share of established advisors who have registered investment advisers, or RIA, firms are nearing retirement, at the same time, there is a growing base of younger clients seeking specialized services from financial advisors. Meanwhile, newer industry business models now offer more diverse options that can allow advisors to customize an RIA business… Continue reading How to Start an RIA
How do I form a new RIA and what are the minimum requirements?
RIA Setup & Registration Have you ever considered starting your own registered investment adviser (RIA) firm? If so, there are a number of things to consider when choosing the path of independence. This week, on “Ask An AdLawExpert,” Michelle Atlas, J.D., addresses how to form a new RIA and the minimum requirements. If you’re interested in… Continue reading How do I form a new RIA and what are the minimum requirements?
Adding a Custodian to your Registered Investment Advisor business
More and more registered representatives are seeking to expand or transition into the registered investment adviser, or RIA, sphere than ever before. While some financial advisors are looking to relieve themselves of FINRA’s increasingly harsh sanctions and its badly-flawed arbitration process, others are simply looking to make the addition of an RIA to their existing business as a broker. … Continue reading Adding a Custodian to your Registered Investment Advisor business