Break Away From The Pack
As you set yourself up as a financial advisor on your own, your first step is to build out your client list. While doing this, it's important to use contractual client agreements. These are binding documents that help to define the relationship for both of you. The...
RIAs bear a fiduciary responsibility to act in loyalty, fairness, and good faith to their clients. Part of this responsibility includes freeing oneself from potential conflicts of interest and disclosing those that do exist. Such conflicts can arise from a number of...
If someone else has misappropriated trade secrets, it generally means that they have obtained or used them in an illegal manner. Perhaps they bribed someone to discover the secrets or they stole the information from a source they weren't supposed to have access to....
Starting your own investment firm requires you to ensure you have a good team working with you. One of the ways you can do this is by offering an attractive executive compensation package. You must ensure that your firm can comfortably handle what you’re offering. ...
When you started working for a large financial firm, you certainly signed a contract. At the time, you liked the stability that this contract gave you. You wanted to know exactly what your obligations were, how much you would be paid and other terms of your...
Despite massive advances in technology and changes to how we work, it still pays to give all your employees an employee handbook when they start. Whether you print it or keep it virtual is up to you, but ensure you get a signature to say they have read it. What can it...
You have finally decided to make that big leap and start your own RIA firm. However, uncertainties generally associated with starting on your own abound. While you can’t expect to have it easy, there are some challenges you need to be aware of and ensure you have...
Along with the lucrative career of a registered investment advisor (RIA) comes a number of potential pitfalls, some more serious than others. Advisor Perspectives has outlined some of the biggest professional risks prevalent in the investment industry, which include:...
As you prepare to open your new business, one of your key focuses will be hiring the right professionals. This may be something you don’t have much experience with. One situation that can be a source of concern is having to rescind a job offer. Sometimes a business...
A compliance audit is a stressful event for a registered investment advisor (RIA.) Whether you have been in business for a while or have recently broken away from another firm, here are a few of the key compliance challenges you may face. Knowledge of problem areas...