RIA startup

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Feb 3, 2011 10:35 pm

Hello all,

I am pondering the idea of becoming a RIA (the small kind, 5M AUM in nyc). Do you know if a RIA can manage an institutional account such as an endowment fund? Also, can I charge performance fees? Lastly, f there is any start-up RIA out there, is there any advice you can give me based on your experience in the business?

Any response is highly appriciated,

Thank you in advance

Mik

Feb 8, 2011 9:25 am

[quote=mikpanzeri]

Hello all,

I am pondering the idea of becoming a RIA (the small kind, 5M AUM in nyc). Do you know if a RIA can manage an institutional account such as an endowment fund? Also, can I charge performance fees? Lastly, f there is any start-up RIA out there, is there any advice you can give me based on your experience in the business?

Any response is highly appriciated,

Thank you in advance

Mik

[/quote]

With $5mm you will have to go with Scottrade, Interactive Brokers, SSG, Trade PMR (Possibly TD Ameritrade) as a custodian. Schwabb, Fidelity, Pershing and the like require much higher minimums.

Yes, you can charge performance fees.

Feb 4, 2011 12:29 pm

Thanks. Yes I am looking at those platforms now. However, I haven't made up my mind yet. So be able to charge performance fees are a huge plus for me, because I don't come from an FA role at a b/d but from a sell-side trading desk, so I can generate the alpha (hopefully). I can charge performance fees to any account size? No minimums? Thanks

Feb 4, 2011 6:14 pm

No - did you get my PM??