Starting Your Own RIA
Have you been considering whether now is the right time to open a Registered Investment Advisor (“RIA”)? Navigating the complex regulatory requirements, making operational and technology decisions, and developing the financial analysis to know what the future holds may seem daunting.
There are people willing to help you make an informed decision. We invite you to watch this recording of our webinar to help you understand.
What do I need to know before I start the process?
Oyster Consulting recently partnered with the Hirschler-Fleischer law firm to provide a webinar that answers many of the questions asked by those considering starting their own RIA. Panelists from Oyster Consulting, Hirschler Fleischer, Charles Schwab, TD Ameritrade, CUNA Mutual Retirement Solutions, and Pershing Advisor Solutions offered insight on:
- The business case for going independent
- Technology platform considerations
- Legal and compliance considerations
Following the discussion of key considerations, a panel of independent advisers answered questions about lessons learned and best practices they have employed.
To make your viewing experience easier, we’ve broken the webinar into four parts:
Kevin Gaston, CPFA, CRPS
How Can Oyster Help?
When thinking about transition, Oyster can assist you in many ways, from helping you evaluate the financial model of independence, versus your current environment, to creating an onboarding timeline and customized plan and helping you implement that plan. Oyster will also file your RIA paperwork, set up your compliance infrastructure and can provide ongoing compliance support either as an outsourced CCO or supporting your internal CCO. We can customize the level of support during this process to fit your needs and budget, and give you as little or as much help as required to ensure we are a value-added partner.
Leading up to and during transition we can assist with any of the following:
- Financial Analysis
- Project Planning and oversight
- RIA filing, and development of compliance program, including ongoing support or outsourced CCO.
- Guidance in setting up Office Administration and Operations processes (and evaluating where outsourcing is best)
- Assistance with BD coordination and transition, if required
- Evaluation of technology and assistance in setting up the technology ecosystem for your practice.
Oyster Consulting has the experience and expertise to act as a resource or outsource for many of your firm’s needs. We provide assistance to our clients in all aspects of running an RIA, including the initial registration with the SEC and various states. Oyster will assess your firm’s current structure, technology, activities, and compliance program and recommend practical solutions to improve your control environment as well as your bottom line.
Oyster Consulting can also provide the following services:
- Registration services, including SEC and state filings
- ADV Part 1 and 2 preparation or review
- Specific policy guides, written supervisory procedures and code of ethics for your business
- Compliance monitoring to meet regulatory requirements, including personal and insider trading
- Technology assessment, selection and implementation
- CCO Outsource and Support Services
- Review of advertising and sales literature
- Best execution processes
- Business continuity planning
- Merger integration
- Staff augmentation
- Vendor assessments and relationship management
- Reviews, analyses and responses to inquiries from regulators and deficiency letters
- Training and education programs
- Risk assessments and reviews of key operational controls
- Compliance program reviews, preparation for audits, and assistance with SEC and state examinations
Our team is made up of experienced industry practitioners, not career consultants. To learn more about Oyster’s services, call us at (804) 965-5400 and one of our Relationship Managers will be happy to help you.
Please complete the form below to download more information on starting your own RIA, including:
- A recording of our video on Making the Business Case for Starting Your Own RIA
- A recording of our panel discussion on Starting Your Own RIA – Platform Advisors
- A recording of our panel discussion on Starting Your Own RIA – Compliance & Legal
- A recording of our panel discussion on Starting Your Own RIA – Those Who Have Gone Before