Category: RIA Best Practices

39 posts categorized as "RIA Best Practices"


Integratable ≠ Integrated

August 21, 2019

In our work with new and established RIAs looking to build and/or improve their technology stack, we encounter many frustrated advisors who lament, “We were told that the benefit of being an RIA was that all of our technology systems would be integratable with one another – while that may be the case for other…

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What RIAs should learn from Uber and Lyft

August 15, 2019

Most RIA owners are obsessed with growing top-line revenue at all costs, with little thought to the bottom-line profitability of each additional dollar of AUM A recent New York Times article called Uber and Lyft two of “the largest and most anticipated … companies to have gone public this year,” but in the same breath…

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Where to Start When Developing Workflows

July 23, 2019

In our work with large RIAs looking to increase their scale and efficiency, we often begin with a review of their various systems, people, and processes.  We walk through a comprehensive list of their executives, advisors, and employees to better understand the broader team’s roles and responsibilities.  We then begin to dive deeper to gather…

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Don’t Charge for Reporting On Outside Assets

July 16, 2019

Advisors looking to grow their business must constantly grapple with client acquisition costs. As advisors struggle to differentiate themselves and the services they offer, many have concluded that providing a higher touch to existing clients and working to gain a larger percentage of their investable assets is a more profitable way to grow, rather than…

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Two Key Ingredients to a Proper M&A Strategy

June 27, 2019

Not a day goes by that the RIA press isn’t reporting on another merger or acquisition.  At industry conferences, the panels discussing M&A are the most highly attended.  With more and more outside capital circling, everyone wants in on the RIA M&A game. Given this is an industry-wide trend, why do we only see press…

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Breakaways Should Treat Their Reporting Provider Like a Relationship: Don’t Rush Things!

May 29, 2019

As part of our work with breakaway advisory teams, we help coordinate the various RIA systems needed for advisors moving to Independence.  We work with the selected technology providers to design an integrated workflow of all systems that cater to the team’s particular clients and services provided.  Once their custodian has been selected, the first…

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Top 5 Lessons Learned from Episodes 1-5 of The COO Roundtable

May 7, 2019

We’d like thank everyone who has listened, subscribed, and given feedback on The COO Roundtable thus far.  We’ve really enjoyed conducting these interviews and hearing all your reactions.  Our interviews to date have included ten operations professionals at nine multibillion-dollar RIAs across the country accounting for over $30 billion in client assets under management.  With…

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Book Review: The Financial Advisor M&A Guidebook

April 24, 2019

PFI Advisors has written a lot around the operational side of M&A, and how important it is for firms to think through not only deal structure and valuation, but the planning process around integrating the two firms into one cohesive company once the deal closes.  As Chris Voss, former FBI hostage negotiator states in his…

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Why is an Ops & Tech Consultant Writing About Client Segmentation?

April 16, 2019

Anders Jones of Facet Wealth recently wrote that as RIAs approach the elusive $1 billion AUM milestone, they need to be increasingly cognizant of their profit margins and resources needed to service their clients.  The goal of any RIA is to provide high-touch service to an ever-expanding client base.  RIA owners will achieve this goal…

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The 3 Most Common Technology Headaches RIAs Face

April 8, 2019

Technology reporter Ryan Neal’s recent article offered a refreshing (and interesting) perspective of problems RIAs often face with their technology suite of systems.  He provided an entertaining spin on this common challenge for firms, likening popular Netflix star Marie Kondo’s philosophy of cleaning house to revising an RIA’s technology infrastructure.  As operations and technology consultants,…

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