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

May 17, 2018, by PFI Advisors

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