Former Luminous COO to Provide Operations Consulting to RIAs

January 16, 2018

Advisors have been asking Matt Sonnen, CEO of PFI Advisors, for an outsourced COO offering since he launched two years ago. He’s no longer fighting the market. PFI Advisors, a consultancy focused on transitioning $1 billion plus breakaway teams out of the wirehouses, has introduced a new operations consulting service called COO Resource for registered…

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Advisor Moves to Expect in 2018

January 12, 2018

Wirehouses’ withdrawal from the broker protocol will only boost advisers’ interest in the independent space Citigroup recently announced that it will be following Morgan Stanley and UBS’ lead in exiting the broker protocol. While it’s not a big player in the recruiting wars among wirehouse firms, this move signifies a further trend toward the potential…

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Alt investments on the rise among RIAs

January 2, 2018

We wrote this article for InvestmentNews to highlight the research we conducted for our Alternative Investments White Paper last October, where we highlighted the alternative investment resources provided by Artivest, iCapital Network, PPB Capital Partners, and Republic Capital Group. Based on the success of the RIA industry, the trend of breakaway advisers interested in exploring…

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Now and Next – The Evolving State of the Broker Protocol

December 28, 2017

Here is a replay of a conversation our CEO Matt Sonnen recorded with Pershing Advisor Solutions’ Ben Harrison, MarketCounsel’s Sharron Ash, and Jordan Schultz of Schultz Consulting. Listen here:

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Our Top Blog Posts of 2017

December 20, 2017

As 2017 comes to a close, we reflect on this past year as PFI Advisors.  From a personal perspective, it was the most devastatingly heartbreaking year of our lives, yet we have persevered and have continued to professionally grow our business, now entering its third year.  This year, we have worked with breakaway advisors and…

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What Are Clients Willing to Pay For?

December 8, 2017

While attending Schwab IMPACT last month, we had the privilege of listening to a presentation by Joe Duran, CEO of United Capital.  In his opening remarks, he compared Vanguard in the financial services industry to Netflix in the entertainment industry, or Amazon in the retail industry.  He cautioned advisors that if they do not adapt…

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The Ins and Outs of Breaking Away in the Post-Protocol World

November 29, 2017

First, a disclaimer: We are not lawyers, and this post does not contain legal advice of any kind.  As operational consultants that advise financial advisors on the nuances of starting an RIA, we always suggest advisors consult with legal counsel before embarking on a breakaway transition. The recent news of Morgan Stanley’s and UBS’ exit…

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Broker Protocol News: Opportunity for Savvy RIAs

November 6, 2017

Last week’s news of Morgan Stanley exiting the Broker Protocol, most likely encouraging other major wirehouses to follow suit, elicited a knee-jerk reaction. Advisors and industry professionals alike speculated that the party is over; this will put an end to the wave of advisors breaking away from the employee model of the banks and brokerage…

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PFI Advisors White Paper: The Rise of Alternative Investments in the RIA Industry

October 30, 2017

Many wirehouse advisors are “brainwashed” into thinking they won’t have access to sophisticated investment solutions if they start their own RIA.  PFI Advisors’ latest white paper highlights how independent advisors can access alternative investments in the RIA channel.  Featuring Artivest, CAIS, iCapital, PPB Capital Partners, and Republic Capital Group, our research addresses the top concerns…

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Jumping into the M&A Game

October 9, 2017

As operational and technology consultants, we are contacted at least three times per month from larger RIAs saying, “A friend of mine just bought a $100 million practice – I want to do that too!” This is a common response from aspiring buyers as the industry is beginning to consolidate based on advisor demographics and…

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