Wirehouse / RIA?

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Mar 19, 2012 4:41 pm

I am a wirehouse rep who manages only discretionary, fee based business in proprietary models using mutual funds, ETF's, etc. I trade all my accounts in bulk. I want to find external distribution for my models (which are structured as UMAs/TAMPs) using overlay management technology platforms like Placemark. I need to be an RIA to get on these platforms

Would any wirehouse agree to me registering as an RIA and looking to distribute my models this way? What about FiNet? Any other thoughts or advice?

Apr 26, 2012 6:45 pm

Hi Swimmer,

I believe generally, the wirehouses don't support the hybrid model (the model that you are referring to with being registered at a B/D and having an RIA, which is why in my experience, I'm finding that many wirehouse reps are moving to indy b/d's which support, even promote this platform.  And please keep in mind that I said GENERALLY...there may be programs out with certain wirehouses that I'm unaware of.

I am a compliance consultant that assists adviors in starting their own RIA.  I make sure that the RIA is set up properly with the SEC or State, and I assist in establishing a compliance program for the new RIA.  Please don't hesitate to contact me if you have any questions regarding starting your own RIA.   I am a former regulator with years of experience in the industry, including on Wall Street.

Regards,

Tiffany Chamberlain

Managing Director, Polaris Compliance Consulting, LLC

(888) 240-4299

www.polariscompliance.com

[email protected]