Matt Sonnen Joins Mindy Diamond to Discuss “What it Really Takes to Build an RIA Firm”

May 17, 2018, by PFI Advisors
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CEO Matt Sonnen sat down with Mindy Diamond to discuss the lessons he learned from launching Luminous Capital 10 years ago, as well as the advice he gives billion-dollar breakaway teams today that are looking at Independence.  He paints a realistic picture of what it REALLY takes to build an RIA firm, whether you go it alone, work with a service provider, or hire a consultant.  He answers these specific questions:

  • What does it take to build an independent business?
  • What are the differences between a serial acquirer, a service platform and a consultant?
  • How do you access alternatives, research and lending as an independent?
  • How do you create a performance report as an independent?
  • How do you trade as an independent?
  • How long does it take to launch?
  • What about marketing and branding?
  • How do you handle compliance?

Matt and Mindy also discuss what to expect from life after the launch and address a common concern about the bottom line. That is, how long does it typically take for a breakaway to become cash-flow positive?

Listen to podcast here

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