In this episode, Mindy is joined by Matt Sonnen of PFI Advisors, who helped build the infrastructure for the breakaway launch of Luminous Capital, and today has a career helping lead billion-dollar teams to independence.
Because Matt has been on both sides of a breakaway, he can paint a realistic picture of what it really takes to build a registered investment advisory firm—whether you go it alone, work with a service provider or hire a consultant. He answers those questions most frequently asked, including:
- What does it take to build an independent business?
- What are the differences between a serial acquirer, a service platform and a consultant?
- How do you access alternatives, research and lending as an independent?
- How do you create a performance report as an independent?
- How do you trade as an independent?
- How long does it take to launch?
- What about marketing and branding?
- How do you handle compliance?
They will also discuss what to expect from life after the launch and address a common concern about the bottom line. That is, how long does it typically take for a breakaway to become cash-flow positive?
Mindy Diamond is President & CEO of Diamond Consultants in Morristown, N.J., a nationally recognized boutique search and consulting firm in the financial services industry.