Is my book of business mine or my firm’s?

There is no questioning who built your book of business, at SimplyRIA there is no questioning who owns your book of business. As a member of protocol you can bring your book with you, and when you choose to leave you can take your book with you or sell it.

Will I be pressed to sell proprietary products or to meet quotas?

Never. That is exactly what we believe distinguishes RIAs from Broker Dealers, and what we are absolutely against. You will never be coerced into anything, especially if it isn’t aligned with your clients’ interests.

How does SimplyRIA participate in succession planning or acquisition of books?

SimplyRIA acknowledges your ownership of your book. When it comes time to retire, we will offer you fair value of what you built. Additionally we will work with you to transition your clients to a qualified advisor you choose to work with. For advisors looking to expand through acquisition, our institutional executive team is already performing the very same role. They are ready and qualified to help you find, value, and purchase books to grow your business.

How in depth or what is the breadth of SimplyRIA’s support capabilities and support staff?

SimplyRIA’s staff is dedicated to your new RIA’s ongoing success. They are available every business day to address issues as they arise, and capitalize on over 30 years of advisory experience to resolve problems both timely and thoroughly.

What can I expect the transition process to entail?

The transition process we have built for you is meant to be seamless. Minimized paper work and administration is required to grow your core business or leave the broker dealer world on your part – just get licensed and the info you want reflected in your chosen marketing suites and we handle the rest. Once you’re officially licensed, and if applicable your RIA is registered, you can begin soliciting clients to your new business.

Technology is crucial to my ability to build my book of business and optimize client satisfaction, what is SimplyRIA’s stance on technological empowerment?

SimplyRIA prides itself on always staying cutting edge. This commitment is ongoing and facilitated by our structure. Since we do not have bureaucracy or overbearing size to stymie our advancement we are always able capitalize on advancement opportunities. If ever there is any aspect of our offerings that you feel is technologically lacking, we welcome suggestions on improvement.

What will my ongoing compliance support entail?

Compliance is critical to your firm’s ongoing success and we are here to help. You will enjoy quarterly and annual compliance reviews as well as ongoing ADV updating services. Additionally we are available for spot checking any new marketing or communication material, and in the event of audit or regulating body visitation can send out an executive compliance team to get you through it without concern.

How did SimplyRIA get into this business?

SimplyRIA is the culmination of more than 30 years of experience and 2 years of dedicated effort building a successful, reproducible, premium RIA.  The choice to focus exclusively on RIAs is part of our firm’s commitment to continuous improvement and superior client service. By going RIA we bind ourselves to the fiduciary standard, incentives that are aligned with the clients’, and our desired corporate culture.  We have mastered the process of establishing a firm so you do not have to. We have simplified asset management and marketing dominance. All so you can focus the utmost of your attention on the most important aspect of wealth management: the client.

How does the firm measure advisor and client satisfaction?

Client satisfaction is our emphasis. This can be highlighted by our above average client retention rates. Your satisfaction is equally important to SimplyRIA, as it directly impacts your clients. We have mediums for communication and feedback readily available for you to let us know how we can improve our offerings. Our dedication to ongoing improvement depends on Advisor feedback.

How does the firm enhance my marketing abilities?

The success of your firm in acquiring initial clients can depend heavily on your marketing strategy. Our customizable website offerings are search engine optimized, ensuring clients in your market are finding you when Googling key words such as retirement planning. Additionally, our marketing materials are designed to dominate your market. With branded mediums including mailings, seminar invitations, and brochures you will have every method at your disposable to establish your new brand and solicit prospects.

Will I be able to change my pathway as my goals evolve?

Absolutely, if you start out on one path and decide that another better suits your practice’s needs we are ready to redirect you.

I am bringing my book of business to a Preferred Partner’s Platform, how does SimplyRIA help me and my clients in the transition process?

We pride ourselves on transition support, making the move as easy as possible for both you and your clients. Our Preferred Partner’s asset custodian will put a member of their team in your office to setup all the accounts for your clients and prepare all the paperwork to transition them on paper. Additionally, a member of our transition team will be on hand to help prepare both you and your clients for the coming improvement. Many advisors moving their books find that having the paperwork & administration ready enables them to schedule many 15-30 minute appointments so they can guide all of their clients through the benefits and reasons for the change.  You will obviously also enjoy the support of the entire SimplyRIA and Smarter Way to Invest teams, so they can perform any back office heavy lifting remotely for you. To clarify, bringing your clients will take just explaining, potentially objection handling and signatures.

My clients have some considerable capital gains heading into the transition, and are not willing to realize the associated considerable tax burden. How does the transition to the new platform account for this?

Each transition we do while similar to one another is done on a case by case basis. When we evaluate your clients’ portfolios with you in the transition phase, such matters are flagged and marked for review by members of our relevant support staff. In the case of potential tax burdens which we encounter most regularly, the solution will be crafted for your client by the Smarter Way to Invest portfolio management and tax teams.

How am I compensated in the transition phase?

If you are bringing a book of business to a Preferred Partner RIA they may be willing to provide you with a competitive incentive just for moving. This sum and strategic transition timing enable you to enjoy a seamless income stream. Additionally, every single one of our advisors owns their book of business and at the time of their exit from the business will have the opportunity to sell their book to their Preferred Partner at fair value.

Why would I leave my Wirehouse Broker/Dealer?

Why would you stay? The simple fact of the matter is: as an RIA you serve your clients better and you build intrinsic value in the business that is yours. Why build someone else’s business when you can deliver your clients superior service & investment solutions while enjoying superior compensation.

My book is primarily commission based and minimally fee based, is transitioning to the RIA world feasible or beneficial for me?

Yes! Not only is it feasible to transition your book from commission to fee based, but we believe it is beneficial. Your clients will appreciate the greater transparency, and you’ll enjoy superior compensation than you do now at your broker/dealer.

How will my interested staff or agents become advisors?

Our premier white glove training seminar is designed to give a holistic immersion in wealth management. Focusing on the client interactions and key knowledge areas of wealth management, this training will prepare them to be successful as both financial advisors and asset gatherers. The 5 day seminar is held in your office or off site nearby and is designed to train all your participating agents.

How does my day-to-day change going from B/D to a Preferred Partner RIA?

Considerably for the better, you will no longer have to deal with FINRA right off the bat. You will have less paperwork, lower cost E & O, no broker dealer association fees, and less compliance oversight. At a Preferred Partner RIA your role will primarily be that of a relationship manager, focusing more on your clients and their satisfaction and less on compliance, administration, and asset management.

What is life without FINRA?

No trade blotters, no weekly check registers, and withdrawal blotters. All assets are tracked online via the asset custodian and platform and can be used to produce hard copy blotters come audit time. Additionally, you do not need to log your gifts and political contributions so long as they remain legal. Life is better in the RIA space if only because of the time freedom enabled by the lower compliance burden.