Why would you NOT need the 66?  Aren't you advising on investments?  Or are you just doing the trust work and farming out the investmetns?

ice:

Who said Steve is my real name!? :)

b24:

That's why I was asking.  I know no one in our bank trust department currently has a 66.  So how does a bank trust department "get away" with not having anyone hold it if they are offering advice and doing investment management (fee only of course)?  Some loophole where a bank doesn't but an RIA does have to have a person with a 66?

Not sure.  I am not a compliance expert, but I would assume that someone in the department would need a 66 or 7 in order to either advise or provide products.  What are the specific investment solutions you offer?  Investments for a fee or commissions?

Neither the CIO or the FIS (boths CFA's) in your group is licensed?  Are you sure?  Normally those type of folks are licensed (whether they need it or not for a particular role).

You can get an investment advisor waiver for certain designations.  CFA, CFP, others.  Once you pass the 66, you don't actually need to hold it unless you are with a b/d.  If you are with an RIA, you don't need to hold it.  It's just an entry requirement.

Where would I find a copy/sample of "Written Policies and Procedures Manual"?

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Where would I find a copy/sample of "Written Policies and Procedures Manual"?

[/quote]

for $500 you can see mine.

[quote=Magician]

[quote=chickenfeed]

Where would I find a copy/sample of "Written Policies and Procedures Manual"?

[/quote]

for $500 you can see mine.

[/quote]

$50..

For $500 i would want your client advisory contract agreement(discretionary), code of ethics, privacy policy statement and both parts of your ADV

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For $500 i would want your client advisory contract agreement(discretionary), code of ethics, privacy policy statement and both parts of your ADV

[/quote]

Really?  You think someone is going to give you all of those things for only $500?  RIAinaBox is reasonable, but even they won't charge you less than $2500 for all of that. 

You want a code of ethics?  Pull it off CFA Institute's website.  That's the best "free" advice you are going to get.

What is up with people wanting free stuff?

Well I have found WSP and Client Agreement for a total of $300..so I figured for $200 more I could get you ADV and privacy policy(though I am sure i can just borrow some other RIAs privacy policy they have posted on their website).

RIA in a box is a rip off...

[quote=chickenfeed]

Well I have found WSP and Client Agreement for a total of $300..so I figured for $200 more I could get you ADV and privacy policy(though I am sure i can just borrow some other RIAs privacy policy they have posted on their website).

RIA in a box is a rip off...

[/quote]

Say that after your first audit.

[quote=chickenfeed]

Well I have found WSP and Client Agreement for a total of $300..so I figured for $200 more I could get you ADV and privacy policy(though I am sure i can just borrow some other RIAs privacy policy they have posted on their website).

RIA in a box is a rip off...

[/quote]

Paying a financial advisor $10K a year is a "ripoff"

Paying a CPA $5K a year is a "ripoff"

Paying an attorney anything is a "ripoff"

Can't you just do all that stuff yourself?  You can get your investments for "Free" at Vanguard, do your taxes at Turbotax for 50 bucks, and download wills and trusts off the internet for next to nothing.

Steve:

I think I can help you. What state are you in? Or reply private if you would like.  There are turnkey trust offerings with SunGard and eveything you need. RIA may not be your best option. You dont have to reinvent the wheel. There are third party trust chassis that will work very well. I am an independent in the SouthEast with a branded trust offering that might fit the bill.