September 07, 2021 | Shoestring RIA
For financial advisors thinking about starting their own RIA, it’s important to realize that success requires an entrepreneurial mindset. Every day out on your own can feel like you’re fighting an uphill battle, but this is part of the entrepreneurial spirit.
September 01, 2021 | Financial Industry
The Securities and Exchange Commission (SEC) drafted the Regulation Best Interest (Reg BI) rule in 2019. Regulation BI provides additional safeguards for investors by setting new standards of conduct for financial advisors and broker-dealers. The implementation of Regulation BI may lead to operational changes for broker-dealers and investment advisers. Under Regulation BI, these individuals have
August 17, 2021 | Shoestring RIA
Make no mistake, running your own RIA is a business and should always be treated with the same considerations as any business, such as how to handle products and services, operations, sales, marketing, and finances. Though some RIAs may join an existing RIA firm to ease their operational burdens, many RIAs wind up starting their own firms or go on to register as both a broker-dealer and independent investment advisor.
August 11, 2021 | Financial Industry
New client acquisition is one thing that is crucial for financial advisors to continue to grow their practices. However, generating new client leads can be difficult and expensive, especially for those just starting. Here are a few proven marketing strategies for financial advisors that can be used to drive new leads whether you are a
August 03, 2021 | Shoestring RIA
Becoming an RIA is an attractive option for many advisors. Young advisors just starting out may want to strike out on their own. Perhaps they are dissatisfied with their compensation arrangement, or they have their own ideas about how best to serve clients and use technology.
July 25, 2021 | Financial Industry
For some, the words “artificial intelligence” are associated with self-driving cars, sentient robots, and world-threatening supercomputers. However, artificial intelligence and machine learning are now being used to optimize a wide range of business processes including fee calculation, billing and invoicing. Manually processing invoices can be a time-consuming, error-prone procedure that exposes businesses to reputational risks,