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Newly Registered RIAs - Things to Consider

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Aug 3, 2015 1:44 pm

If you are a newly registered RIA or considering the independent route and getting ready to start your own RIA, there are many things that need to be considered. TD Ameritrade has a lot of information for both sides of the fence (1) Those already registered and ready to start growing their business (2) Those considering the independent route. (

A couple of things I see as most important are the following:

- Work with a knowledgeable/reliable compliance consultant that can be your "outsourced CCO" - Delegation of tasks is key to ensure you focus your time on what you do best!

- Consider all of your expenses/overhead:

Especially your insurance costs In some states it is mandatory that the RIA carries a License & Permit (Surety) Bond. If the bond is not purchased then you are liable to be fined or even have your registration process delayed E&O Insurance, although not mandatory, is highly recommended to safeguard the firm's assets which you will be working day and night to grow. The right E&O coverage can/will cover both litigation expenses and any settlement/judgment made against the firm as a result of professional services.

Any questions please respond to this post or reach out to me per the below:


Nick Weiner

First Professional Brokerage

[email protected]