10 reasons why RIAs fail

Going strictly by the numbers, it’s the golden age of RIAs. The volume of financial advisors moving to independence has steadily increased year over year, according to a 2018 Schwab survey. That translates into a whopping 59% increase in the number of registrations from 2013 to 2017 — 238 firms that collectively represent $84 billion in AUM, according to the SEC.

But, as many an RIA principal has discovered, taking the plunge is almost the easy part. After that come the day-to-day strategy and practice-management decisions that make or break a firm’s long-term viability.

Here are 10 potential problem areas for new, and not-so-new RIAs, and how some experts address them.

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