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Leaving the wire

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Gob View Drop Down
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    Posted: Jan/19/2018 at 8:35pm
Hi,

My partner and I are looking at leaving our current firm for RIA land and I’m looking to get some advice.

We are currently getting recruited by an ria. Their pitch essentially is to take care of all the admin stuff, help with the transitioning, and provide a top tier tech suite. They would take 15 bips to provide this service.

My first question is about tech. I’m concerned with finding tech that works well together. What are you guys using for crm, rebalancing, etc that Work together?

How long would you say it takes to plan an exit if we did it all ourselves instead of going to an already established RIA?
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Fitness1983 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Fitness1983 Quote  Post ReplyReply Direct Link To This Post Posted: Jan/19/2018 at 9:26pm
There's that word again
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PEACH_cm View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote PEACH_cm Quote  Post ReplyReply Direct Link To This Post Posted: Jan/19/2018 at 9:29pm
Depends on your practice size, investment strategy, services offered, etc.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Gob Quote  Post ReplyReply Direct Link To This Post Posted: Jan/20/2018 at 12:18am
Originally posted by Fitness1983 Fitness1983 wrote:

There's that word again


Huh?
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Gob View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Gob Quote  Post ReplyReply Direct Link To This Post Posted: Jan/20/2018 at 12:20am
Originally posted by PEACH_cm PEACH_cm wrote:

Depends on your practice size, investment strategy, services offered, etc.


100mm close to 100% fee based.

Mainly running etf portfolios with some individual stock portfolios mixed in.
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helado View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote helado Quote  Post ReplyReply Direct Link To This Post Posted: Jan/20/2018 at 3:53am
Still amazed at FAs that don’t know what bps are.
My posts are for abrasive entertainment only. Nothing posted is investment, legal, tax or any type of advice, nor is anything mentioned true or even based on real events. Posts are complete fiction.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote OnTheLoose Quote  Post ReplyReply Direct Link To This Post Posted: Jan/20/2018 at 10:15am
Originally posted by Gob Gob wrote:

Originally posted by PEACH_cm PEACH_cm wrote:

Depends on your practice size, investment strategy, services offered, etc.


100mm close to 100% fee based.

Mainly running etf portfolios with some individual stock portfolios mixed in.

Could you run your office with one admin?

You could pay them a very healthy salary, pay for tech out of pocket, and still come out way ahead compared to 15 bps on 100mm.

Portfolio Management & Rebalancing - TD Ameritrade iRebal
CRM - Wealthbox
Billing - BillFin
Planning - MoneyGuidePro
Risk Analysis - FinaMetrica
Compliance - Smart RIA
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bc2051 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote bc2051 Quote  Post ReplyReply Direct Link To This Post Posted: Jan/20/2018 at 10:27am
Originally posted by helado helado wrote:

Still amazed at FAs that don’t know what bps are.


Haha. He’s talking about the word -recruited
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Fitness1983 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Fitness1983 Quote  Post ReplyReply Direct Link To This Post Posted: Jan/20/2018 at 10:29am
Originally posted by bc2051 bc2051 wrote:

Originally posted by helado helado wrote:

Still amazed at FAs that don’t know what bps are.


Haha. He’s talking about the word -recruited


That's pretty funny
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PEACH_cm View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote PEACH_cm Quote  Post ReplyReply Direct Link To This Post Posted: Jan/20/2018 at 10:59am
I cannot believe people pay for rebalancing programs.
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Chief View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Chief Quote  Post ReplyReply Direct Link To This Post Posted: Jan/20/2018 at 11:21am
Originally posted by PEACH_cm PEACH_cm wrote:

I cannot believe people pay for rebalancing programs.

THIS
"You like winning don't you?" "Saves you from having to say the word please."

Good point Chief. Iceco1d 10/30/12
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Fitness1983 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Fitness1983 Quote  Post ReplyReply Direct Link To This Post Posted: Jan/20/2018 at 11:41am
Originally posted by Chief Chief wrote:

Originally posted by PEACH_cm PEACH_cm wrote:

I cannot believe people pay for rebalancing programs.


THIS


Why not? What is the main value you offer and deliver to your clients?
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TheStupidInvestor View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote TheStupidInvestor Quote  Post ReplyReply Direct Link To This Post Posted: Jan/20/2018 at 12:49pm
Originally posted by Fitness1983 Fitness1983 wrote:

Originally posted by Chief Chief wrote:

Originally posted by PEACH_cm PEACH_cm wrote:

I cannot believe people pay for rebalancing programs.


THIS


Why not? What is the main value you offer and deliver to your clients?

I think it's because "rebalancing" can be figured out in excel in less than 2 minutes. If there is a program out there that tracks each individual client mandate and automatically rebalances portfolios at once, their may be some value in that
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Post Options Post Options   Thanks (0) Thanks(0)   Quote bc2051 Quote  Post ReplyReply Direct Link To This Post Posted: Jan/20/2018 at 1:20pm
Originally posted by Fitness1983 Fitness1983 wrote:

Originally posted by Chief Chief wrote:

Originally posted by PEACH_cm PEACH_cm wrote:

I cannot believe people pay for rebalancing programs.


THIS


Why not? What is the main value you offer and deliver to your clients?


Popcorn ready. This is the kind of question that sets AH off
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Moraen View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Moraen Quote  Post ReplyReply Direct Link To This Post Posted: Jan/20/2018 at 3:06pm
Originally posted by OnTheLoose OnTheLoose wrote:

Originally posted by Gob Gob wrote:

Originally posted by PEACH_cm PEACH_cm wrote:

Depends on your practice size, investment strategy, services offered, etc.


100mm close to 100% fee based.

Mainly running etf portfolios with some individual stock portfolios mixed in.

Could you run your office with one admin?

You could pay them a very healthy salary, pay for tech out of pocket, and still come out way ahead compared to 15 bps on 100mm.

Portfolio Management & Rebalancing - TD Ameritrade iRebal
CRM - Wealthbox
Billing - BillFin
Planning - MoneyGuidePro
Risk Analysis - FinaMetrica
Compliance - Smart RIA


FinaMetrica is garbage.  There is no reason to pay for risk tolerance software unless it is providing some sort of lead generating value, or sales juju a la Riskalyze.

For regulatory purposes, come up with a quick five question "risk assessment" and use that.
I come in peace. I didn’t bring artillery. But I’m pleading with you, with tears in my eyes: If you fuck with me, I’ll kill you all. - General James Mattis

Fiduciary as Fuck - iMo
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PEACH_cm View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote PEACH_cm Quote  Post ReplyReply Direct Link To This Post Posted: Jan/20/2018 at 7:59pm
Originally posted by Fitness1983 Fitness1983 wrote:

Originally posted by Chief Chief wrote:

Originally posted by PEACH_cm PEACH_cm wrote:

I cannot believe people pay for rebalancing programs.


THIS


Why not? What is the main value you offer and deliver to your clients?
rebalancing a main value? I manage money. I don't have someone else tell me what mutual fund to put a clienT in and then act like I know what they are truly invested in.... that's your job.














You skipped leg day.
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PEACH_cm View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote PEACH_cm Quote  Post ReplyReply Direct Link To This Post Posted: Jan/20/2018 at 8:00pm
Originally posted by Moraen Moraen wrote:

Originally posted by OnTheLoose OnTheLoose wrote:

Originally posted by Gob Gob wrote:

Originally posted by PEACH_cm PEACH_cm wrote:

Depends on your practice size, investment strategy, services offered, etc.


100mm close to 100% fee based.

Mainly running etf portfolios with some individual stock portfolios mixed in.

Could you run your office with one admin?

You could pay them a very healthy salary, pay for tech out of pocket, and still come out way ahead compared to 15 bps on 100mm.

Portfolio Management & Rebalancing - TD Ameritrade iRebal
CRM - Wealthbox
Billing - BillFin
Planning - MoneyGuidePro
Risk Analysis - FinaMetrica
Compliance - Smart RIA


FinaMetrica is garbage.  There is no reason to pay for risk tolerance software unless it is providing some sort of lead generating value, or sales juju a la Riskalyze.

For regulatory purposes, come up with a quick five question "risk assessment" and use that.
this
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Fitness1983 View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Fitness1983 Quote  Post ReplyReply Direct Link To This Post Posted: Jan/21/2018 at 1:42am
Originally posted by PEACH_cm PEACH_cm wrote:

Originally posted by Fitness1983 Fitness1983 wrote:

Originally posted by Chief Chief wrote:

Originally posted by PEACH_cm PEACH_cm wrote:

I cannot believe people pay for rebalancing programs.


THIS


Why not? What is the main value you offer and deliver to your clients?
rebalancing a main value? I manage money. I don't have someone else tell me what mutual fund to put a clienT in and then act like I know what they are truly invested in.... that's your job.

You skipped leg day.

I didn't say re-balancing was a main value.

I just asked what your main value add to your clients is. "I manage money" doesn't sound like much of a differentiator.

How do you manage it? I'm seriously asking. I'm curious what you say to clients/prospects
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helado View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote helado Quote  Post ReplyReply Direct Link To This Post Posted: Jan/21/2018 at 3:43am
Buy AAPL on margin as a cash surrogate.  😁 
My posts are for abrasive entertainment only. Nothing posted is investment, legal, tax or any type of advice, nor is anything mentioned true or even based on real events. Posts are complete fiction.
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Gob View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Gob Quote  Post ReplyReply Direct Link To This Post Posted: Jan/21/2018 at 11:41am
Originally posted by Fitness1983 Fitness1983 wrote:

Originally posted by PEACH_cm PEACH_cm wrote:

Originally posted by Fitness1983 Fitness1983 wrote:

Originally posted by Chief Chief wrote:

Originally posted by PEACH_cm PEACH_cm wrote:

I cannot believe people pay for rebalancing programs.


THIS


Why not? What is the main value you offer and deliver to your clients?
rebalancing a main value? I manage money. I don't have someone else tell me what mutual fund to put a clienT in and then act like I know what they are truly invested in.... that's your job.

You skipped leg day.

I didn't say re-balancing was a main value.

I just asked what your main value add to your clients is. "I manage money" doesn't sound like much of a differentiator.

How do you manage it? I'm seriously asking. I'm curious what you say to clients/prospects


I am the best manage money. Ask anyone on the street. They will tell you how fantastic I am at managing money. Now sign this acat.

Are there platforms that offer a full tech stack? My main concern is integration between programs.
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