What’s in It for Your Clients?

Top 5 Ways your Clients Benefit When You Become an RIA

What’s in it for my clients? That’s one of the key questions Advisors ask as they consider leaving a wirehouse to become an independent Registered Investment Advisor (RIA). Even Advisors who feel stifled by wirehouse rules worry that independence may seem riskier for clients. Not so! In fact, becoming an independent RIA allows for a significantly better client experience and here’s why:

  1. Fiduciary Promise
    As an RIA, you are legally and ethically required to serve as a fiduciary. RIAs are under no obligation to sell proprietary products but are instead free to select any solution right for their clients. That’s a huge weight off your shoulders, and a boon for your clients as they enjoy transparency and conflict-free support.
  1. Enhanced Client Service
    Going the independent route means you can build your own brand and choose the caliber of your colleagues and employees. As an independent RIA, you create the client management approach consistent with your vision, engaging with clients how you see fit, which is often more frequently and with greater depth than you were able to do at a wirehouse.
  1. Platform Flexibility
    Operating within an open architecture, RIAs are free to choose the products and services that best meet their clients’ needs. At the same time, their compensation is no longer tied to products they sell. Both are reasons that RIAs can deliver a more customized, nimble, and objective client experience.
  1. Holistic Solutions
    As an RIA, you can offer clients access to a more comprehensive menu of financial solutions — from tax planning and capital markets to investment banking and Family Office Services – that enable your team to act as true holistic wealth managers, capturing all elements of your clients’ financial lives.
  1. Up-to-Date Technology
    At a wirehouse, Advisors are required to use technology that may not be the most current. As an RIA, you can choose the most advanced platforms. Your clients will notice the difference in efficiency, pricing, and service!

Making the move to independence is an individual choice. But, for many Advisors and their clients, independence is a win-win.