Question for Established RIA's

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Jan 26, 2009 2:02 pm

For the established RIA's out there who came from B/D's.....Did any of you have "7 Envy"?  In other words....did you have a hard time cutting your apron strings from your old broker history? 

I'm going to make the jump from Regional B/D to RIA here shortly, and I'm having 'issues' with letting go of my old transactional thinking.  Dont get me wrong, 90% of my business is Fee based now, but the pshchological strain of letting go of my "7" is weighing on me. 

Jan 26, 2009 2:26 pm

Is anyone using TD Ameritrade Institutional? I am thinking down the road this might be the best bet for me...

Jan 28, 2009 10:49 am


Yes, I was very hard for me to let go of my 7.  And it was even harder to "stop thinking like a broker."
Yes, we use TDA.  What kind of questions do you have?
Mar 18, 2009 5:27 am

In the past year I have been advising most of my clients to drop 7.  If you are an advisor, then you do not need it.  It is a great story to tell clients.  You cannot make money from transactions... you are on the same side of the table.  Clients get this message and many do not hear it.

ash - The Breakaway Experts