Q61 - What Should I Do With My Legacy Commission Business?

A common misconception about the Registered Investment Advisor ("RIA") model is that you must be 100% fee-only to transition your practice to it.Most advisors, at the time of transitioning, are in fact not 100% fee-only. Many never plan to be going forward either.While the assets under the RIA itself are fee based accounts, there are several solutions to accommodate the existing commission part of your practice.In this episode of my RIA explanatory series, I address five different approaches for your commission assets:Walk awayConvertSellUse an RIA-friendly broker/dealerPark and adviseCome take a listen!Show notes: https://TransitionToRIA.com/what-should-i-do-with-my-legacy-commission-business/About Host: Brad Wales is the founder of Transition To RIA, where he helps financial advisors to learn and understand everything there is to know about WHY and HOW to transition their practice to the Registered Investment Advisor (RIA) model. Brad has nearly 20 years of industry experience, including direct RIA related roles in Compliance, Finance and Business Development. He has an MBA and has held the 4, 7, 24, 63 & 65 licenses. On his website (TransitionToRIA.com) he has a large catalog of free videos, whitepapers, as well as other resources to help advisors fully understand the RIA model and how it would apply to their unique circumstances.