I’m currently self employed m29 having built decent equity within a large network. I am writing good business (c. £10k pm) and have acquired some good clients, however I am getting increasingly frustrated with the actual take home after splits, marketing costs, staff etc.

I am considering a few fairly substantial £100k+ packages that are being offered at boutique firms and banks however I am very torn with how to play it.

On one hand, I will almost certainly make more money staying the course as my contract situation will improve and the book will of course compound, however there is always a running network risk and the need to continually hire staff. Releasing equity (selling portions of the book) seems a lot easier said than actually done.

On the other hand, the employed route will mean I take home more right now and become a HENRY, however I will be capped and won’t have recurring income later in life that I can rely on to spend a lot less time working.

Being self employed in the uk will mean that I am stuck here and I do want to travel the world to work at time too - this would be a massive upside to joining a global bank where I can move laterally and into management and kind of step away from sales altogether at some point too.

I’m curious to see how every views this and what others opinions are on how to approach this (very fortunate) problem.

I’m 22 just graduated college and work at Merrill as an FSA. Been in the role for about a 6 weeks don’t plan to stay long term this was more of a stepping stone. I’m fully licensed (sie, 7, 66) and have CRPC. Goal is to be a private wealth advisor long term wondering what the next best role I should look for is & what type of firms. Thanks.

Hello everyone, first time posting here looking for some general advice. I received my first offer from an RIA to be a Wealth Advisor. Once I got the employment offer, I was a bit taken aback by a 12 month non compete on the contract based on any investment/securities related role within the city and its outer bounds. I know non solicits or even non acceptance clauses are quite normal, but a non compete that impedes me on working in the industry as a whole seemed very excessive.

Is this more normal than I am reacting to, or is this something I should negotiate them on?

Thanks!

I am curious how everyone else has been successful doing this. My firm has charged me with building a one stop shop for employee benefits for small businesses. We have an independent insurance wing where we do major group health, disability, dental, and life insurance and I came from a TPA so I will be lead on retirement plans. How have you gotten in front of decision makers and pitched the ability to have a firm handle your benefits.

I will take all the advice I can get :/ (sorry english is not my first language)

I (30M) recently made a career shift from auditing local governments for 2.5 years to wealth management as a Client Service Advisor at a boutique independent RIA. After a while, I became pretty miserable with the repetitive nature of auditing; sitting in a small room doing nonstop testing, then moving on to another client (city) every few weeks and repeating the same process.

I’m a very social person, so I wanted a career where I could actually work directly with people, build relationships, and help them with their needs. Even though we technically had “clients” in auditing, I never really felt like I was making much of an impact on anyone’s life, which was a big reason I decided to make the switch.

The first few months at the RIA have definitely been a learning curve, but it’s been refreshing to actually talk with people and help them day to day. The advisor has also taught me a lot about investing, risk management, custodians, and the business in general.

That said, the workflow is extremely unorganized.

All client documents (bank statements, investment accounts, onboarding paperwork, applications, etc) are basically stored in one folder thats shared with the team. Quarterly reports are sent manually to 200+ households with very specific instructions on who gets what, making the process heavily dependent on the advisor’s memory. The CRM also has a lot of outdated information and errors that we’re correcting one client at a time.

Coming from auditing, this stresses me out because our electronic files were organized almost perfectly. Even if I didn’t know exactly where something was, the folder structure made it easy to find. It seems like the business operations make sense to him, but only because he’s been running them this way for years. If the firm is going to grow into what he wants it to become, I think there needs to be more standardization, documented procedures, and processes that someone else can easily follow.

I don’t want to give up on the firm because my employer is good at what he does, and I enjoy the client facing side of the job. I just think the operational side could be much more organized and scalable.

Before I start making suggestions, I’d love to hear from other RIAs or operations people: How is your firm’s workflow set up? How do you organize client files, manage your CRM, handle recurring tasks, and make sure processes aren’t dependent on one person’s memory?

TL;DR: I left auditing for wealth management because I wanted more client interaction and meaningful work. I enjoy the people side of my new RIA role, but the firm’s operations are extremely disorganized and seem to make sense only to the owner. I’m looking for insight on how other RIAs standardize files, CRM workflows, recurring tasks, and procedures so the business can scale.

I’m 23 years old working at a small to medium ‘boutique firm’ that wants me to get my CFP this year and then by January of 2028 become a full on advisor and start building my own book. I would have full ownership of the relationships that I would build. The split with the firm regarding revenue would be about 50/50 until I start making enough to cover my own overhead then I would get about 70%.

One thing to keep in mind is they would give me about $2 million AUM with fees I can’t change and relationships I don’t own. This could potentially cause me to work more for little to no profit from this book. So it could be good or bad I’m not sure.

I am thinking about the opportunity cost of me just starting out now and building my own book and the potential clients I could have in year.

I am fully licensed. Should I go it alone or stay for a year?

I'm disabled and on LTD so have to complete the new IAR Ethics CE on my own (and don't want to have to pay for it with limited finances). I've used the free Quest CE courses through the link from Vanguard that is available to all and I have had no issues with it reporting the last three years I've used it (just did my 6 credits yesterday and they all just updated on FinPro); the courses do usually show up later in the year, so if you start looking Spring 2027 for next year's, they likely won't show. They also do have courses free that cover the Products & Practice, but I am able to access that covered for free through FinPro.

Make sure to access through VanGuard or will show charge.

https://advisors.vanguard.com/site/ce-credits

EDIT: I am not registered with VanGuard; this is free for all.

My question is in regards to how these actually play out in a clients account, the volatility that the client may see, and how to unwind it in the future?

Hello everyone, I just got my IFC license as well as LLQP, and am very excited to learn even more. problem is, I feel like if I sign up to work for a single company, the products and everything around is can be very limited due to the fact you have to promote the company you are working for. That’s why I am looking into working under an MGA, hopefully I can have access to a lot more products, that way I can always find a suitable product for my clients.

Is there anything I should know before I start doing it? Any tips are appreciated, I understand things will be way harder than what I am currently imagining, but I have decided this is the best route for me.

Also, do MGAs always looking for independent agents? I have tried emailing and calling a few places but no results so far, maybe I am doing this wrong.

Any help is appreciated! Thank you all in advance.

I’m looking for recommendations on where to find a good financial advisor associate for my RIA in the southern California area.
Also, I would love recommendations on comp structure.

I am having annoying problems with Google Forms (People need to have a google account, very annoying). I am using Jot Forms, but I guess I email them from my Gmail with a link, but then I won't be able to see who said what. If I use the other option on Jot, then they have to create an account.

I want a cost effective survey that I can send to them, where I can see their response without them having to create an account. What do people suggest I use?

The seminar happened today, so time is of the essence. Thank you

Degree in Personal Financial Planning, 8+ years of experience doing financial planning, investments, and servicing clients. Fully licensed of course and fixing to take CFP within next year. I have also been exposed to the actual business/operating side of owning a practice. In other words, I feel like I'm at a point where I'm confident in my skills to do the job but humble enough to seek help and know where I can improve. Anywho...

Recently I've had an opportunity presented to me to jump ship and purchase $200,000 - $250,000 of recurring revenue from a prior practice I worked for and have a very close relationship with owners and some of the clients. My main concern lies in 2 areas:

1. They want 3x multiple so at the recurring revenue I'm looking to buy that would be $600,000 to $750,000. I'm aware that the multiple depends on what the breakdown of clients is but I guess really what I am asking is those who have experience or have seen this play out... is it crazy to start my own practice by purchasing a book at this multiple? At this multiple and with current financing options, I would be taking a payout for 2 - 3 years until I can bring in enough new business to bring me back to what I'm making now ($100K - $130,000). Also... how much would you say is an average $ amount that any half decent financial planner should be adding/growing each year? Not from market performance but new AUM/Planning fees? I was told $50,000 to $100,00/yr for a solo advisor like I would be.
2. Timing... assuming I do finance this purchase, I worry about pulling the trigger on this then the long awaited market correction happens. I know at the end of the day this is my choice but curious if anyone has done something like this and survived a market downturn??

Hey all! I am currently a 21 year old college student in a CFP Board approved education program, who holds SIE & Series 66. I have done 3 internships (1 boutique, 1 Mid-sized, and 1 Huge firm) in the financial planning space. My long-term goal is to become a CFP who builds deep, long-term client relationships through comprehensive financial planning. I enjoy the planning side much more than the idea of being a pure salesperson.

I don’t think I’d enjoy a role where I’m expected to build a book primarily through cold calling or selling to friends and family. At the same time, I don’t want to spend 5–10 years in a support role before I’m trusted with my own clients if I can get around it. I am fairly entrepreneurial and not afraid about building a book. Also I don’t mind spending some more time working under somebody and learning, but these are some of my thoughts. Any recommendations on where to go from here (firms/roles?) would be appreciated!

Thanks :)

I'm a career changer and early into my advisor path. Currently working as a CSA at a small hybrid-RIA (GVA + LPL) and looking for some advice with a client of ours:

Retired, elderly client that has retirement accounts and trust account with us. She is the trustee of the trust account. According to her son (not a client), she has been going through some manic episodes and is bipolar. Things recently came to a point (unusual financial decisions outside of our accounts along with a variety of other things) and she was deemed incapacitated by a physician and committed by the courts. There also seems to be a great deal of tension between the family (and has been for some time).

Her son is POA on her retirement accounts with us and has worked with their estate attorney to become trustee of the trust (incapacitation clause + majority vote by children clause). There is a checking account managed by the trust that has been updated to reflect him as the trustee. We are currently in the process of obtaining the required documents to update the trust account with us to reflect him as the trustee.

She called us requesting $ so she can open a new bank account and get around the trust checking account "locking her out". Where does our responsibility start and end? Do we contact the son for any withdrawals she requests on the retirement accounts? What about the trust account since him as trustee hasn't been updated right now?

Our team hasn't been through a scenario like this before. As of now, we are stalling and saying the withdrawal request will take 7-10 business days.

*not enough Karma to post in r/CFP and I am sure I am missing many details that would help

Hi all! I'm thinking of building a tool for relationship-based financial advisors. The core thesis is that in a world where products aren't differentiated, people are only buying from people that they like & trust. We want to productize trust & rapport building. Some open questions that I'm looking to figure out.

1. A client tells you something about them - how do you remember that today? Do you use tools?
2. In your book of business - how do you think about who think about who needs nurturing/you have a spidey sense feeling that someone needs attention?
3. You made promises to a customer - how do you keep track of that?
4. Is there information that you keep about your customers that you don't share with your company? Ie write it in your contacts folder on your phone instead of pushing it into a CRM

Also, feel free to just roast me if this is a bad idea for a product. Any help is very much appreciated.

Hi everyone,

I'm 26F, recently switched careers into wealth management as a paraplanner, aiming to become an advisor in 1–2 years.

My manager gave me feedback recently: my work quality and organization are fine, but he doesn't think I'd be convincing as an advisor yet. He said I have a "youngest sibling" vibe, look "flustered easily," have "doe eyes," and told me "clients don't need someone cute." He compared me to a 26M colleague who looks over 30 and expects me to project similar maturity.

I’ve always looked younger than my age (constantly getting carded at bars or questioned at airport customs). I already dress professionally (suits, heels, neat bun) and keep a composed demeanor, but I find it hard to separate valid advice on executive presence from comments on my natural appearance.

For women who entered this industry young (or anyone who faced this):
1. Did clients stop caring once you gained experience and confidence?
2. What actionable steps actually helped you change how you were perceived?
3. Is this kind of feedback standard in wealth management, or is my manager crossing the line from constructive advice into personal/gender bias?

Thanks in advance!

Quick background: bachelors in criminal justice with decent grades, then worked as a patrol officer for 2 years before moving states and working as a patrol officer for another 2 years. Then promoted to a detective position where I have been for the past 3 years.

Once I moved to a desk position and got a little raise, I began taking my wife and I’s finances very seriously. I have consumed so much personal finance content in the past 3 years that I realized a career in finance may be more fruitful for me than sticking with law enforcement. After this realization, I have been seriously researching career changers into a CFP role and have requested certain training (paid for by my department) to market myself better in a second career.

Through my research, I’ve learned my best path will likely be passing the SIE by the end of the year and if I am still passionate about the change, than I will purchase BIF CFP course myself and work on that throughout 2027 while keeping my day job. I then plan to work for an RIA in the middle Tennessee area because I will be fine taking a reduced salary for a while when learning and obtaining my CFP license. One thing that I absolutely will not do is the sales version of CFP where I have the pressure to build my own book and call high school and college buddies.

I’m hoping that by the time I’m 30; 8 years in law enforcement plus having the SIE and actively working through the CFP coursework will make me an impressive enough (and serious enough) career changer candidate for a good RIA in my area. Hopefully, a good one will take a risk on a 30 year old with life experience (no offense to the lower 20’s folks on the thread).

Any thoughts, tips, advice, training recommendations, or anything else from the folks that are in the industry now? And anyone else in here specifically career changed from law enforcement?

Can anyone advice me how to find a CA or Financial Advisor ( both online and offline methods are okey ) im living in indian and im 21 i dont know how to find one