RIA Friendly B/Ds

Sep 8, 2014 1:36 am

We're transitioning away from our current IBD and moving towards a true hybrid model.  We've selected TD as our custodian, and have several good options on the technology side to choose from.  Where we're struggling is with the broker-dealers.

Contrary to many RIAs, we want to have complete control on the compliance side.  We understand B/Ds have certain oversight requirements, but we also know that many try to enforce their compliance guidelines and staff on the RIA.

So far we've found PKS, which seems to meet our criteria.  However, we're really struggling to find other B/Ds that truly support the hybrid model, give you control on all fronts, and are comfortable taking a smaller cut on the adivosry business.  PKS looks to be a good firm, we just want to explore all options.

Any suggestions are appreciated.

Thanks.