Breakaway/RIA Set Up

With PFI Advisors, billion-dollar breakaway teams can pursue their RIA dreams with confidence, knowing that they have the right advice and support to build their dream firm, without having to give up hard-earned equity or pay expensive basis points on AUM.

For years, large wirehouse teams have looked at the RIA model as something aspirational, but have held back because of the lack of economic solutions for large teams and the growing complexity of the operational infrastructure for building an RIA. As you can see below, there are many options available to wirehouse advisors who choose to move their business into the Independent channel.

Office Infrastructure

While you remain focused on your day-to-day client responsibilities at your current job, PFI will facilitate the buildout of your new office: real estate selection, furniture, computers, phones, disaster recovery/email retention, audio-visual for conference rooms, etc.  On resignation day, you will walk into your brand new, fully-operational office.

RIA Infrastructure

PFI will work with you to ensure you offer the same products and services you have provided clients throughout your career: performance reporting, trading, CRM, investment research, client portal, financial planning, etc. We will work with you to build your suite of technology solutions, and make sure the proper integrations and workflows are customized and ready to go upon launch of your new firm.

Client Transition

PFI will be onsite to support you before, during, and after resignation day – working closely with your new custodian to process account paperwork to ensure your clients the smoothest transition possible to your new firm. We will also prepare you for your client conversations and have you armed with answers to the most common transition questions.

Billing

PFI will make sure your client agreements are counter-signed, fee schedules are uploaded, and your first billing cycle is complete in a timely fashion.  We will also see that your staff is trained on billing policies and procedures going forward.

Investment Access

Not only will PFI help you access the same investments you offered at your old firm, but we will advise you on the myriad of new investment solutions available to you and your clients now that you are an independent investment advisor.

Custodian Selection

In terms of your clients’ peace of mind, there is no decision more important than the selection of a capable and experienced custodian. PFI will work closely with the custodian to create as smooth of a transition as possible for your clients as they establish new accounts that offer bill pay, lending capabilities, access to investments, etc.

Compliance Support

PFI will make sure the proper SEC filings are made, the proper disclosure documents are sent to clients, and you have a tailored compliance manual and compliance program in place for your new business on Day 1.

Legal

PFI will coach you on the ins and outs of a clean transition from your current firm (Protocol or Non-Protocol transition). We can help you determine the proper business structure and equity ownership of your new firm, as well as facilitate the drafting of all client agreements, employee manual, employment contracts, etc.

Client Segmentation

An important step in the breakaway process is determining which of your current clients are best served by your new RIA, and which clients don’t fit your new service offering. PFI will help you examine your book of clients (with no identifying information) and determine how best to allocate resources at your new firm.

Ongoing Support Services

While many firms engage PFI Advisors simply for transition support during a breakaway, others prefer to keep us engaged for the long haul, providing long-term support and consultation as you grow your firm.  We can design a service model best suited for your needs.