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Becoming an RIA

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Aug 20, 2007 1:33 am

I'm looking for someone from <?:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />Texas who has gone RIA. What did it take on your part to register; did you go in with more than 30mm and have to register with the SEC or less and just the state? I have a 7 and 63 but my current job doesn't require a 66 or 65, so I know I will have to take the exam for one of them, so how do you get past the requirement to be sponsored by a BD.

Aug 20, 2007 3:12 am

I’m not 100% on this, but my gut would tell me that the BD sponsorship is in relation to the 7.  If you are starting your own RIA you can take the 66 without it.  There’s got to be a number of people who have an RIA that never worked for a BD.  

Aug 22, 2007 1:42 am

Wow, I was hoping there were more that had cut the tether and had gone RIA. Oh well my next step is to contact the Texas State Regulator and then the SEC, wish me the best.