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May 9, 2011 6:30 am

Moved from Bank - Broker/Dealer a year ago to a buddy who is an RIA.  Moved assets of $3Mil there, but now buddy is changing the rules of the game...wondering, what does a small guy like me, who wants to remain in the business do?  What are options?  Are there any custodians I can go to that will take on just $3M in asssets?  If so, what kind of fees will I be charged?  Have more assets on the horizon, but want to figure out where I'm going before bringing any more on.  What publications would help out a guy like me learn about various ways to go or others who have been in my shoes?  Thanks!

May 9, 2011 1:23 pm

Look at TradePMR. They have very low barriers for small RIA's, and very good technology.

What has your buddy done that has changed the game?

May 9, 2011 9:14 pm

TradePMR is really expensive.

Scott-Trade has no min and their fees are reasonalbe.

IB has no min and is dirt cheap.

May 12, 2011 5:36 pm


TradePMR is really expensive.

Scott-Trade has no min and their fees are reasonalbe.

IB has no min and is dirt cheap.


You have to consider more than just ticket charges. Fore example, my clients pick up ticket charges, and I don't trade heavily, so tickets are not a big deal. And from my DD, I found that TPMR was much better than Scottrade and IB.

May 14, 2011 2:48 am

Thanks for the info, all!  Going to check in to these opp's next week.

B24, he keeps changing the "rules"...splits...all to his favor.  And some of the promises...well, they keep changing too.  Would rather stay friendly, but apart, than together and feeling cheated....sounds like a divorce!  :)

In detail, I have done a LOT of marketing work to bring the bus into the new millenium and he has handled the admin/regulatory.  Now, he wants to charge me 25% but not give anything back for the website/newsletters etc. work I've done.  It will all be okay and I have a feeling he'll regret his actions....we all live and learn

Jun 8, 2011 1:08 am


We may be able to help. We are a New York based RIA with two custodians Royal Bank of Canada and Schwab Institutional, we have a cloud technology through Google which would allow you to work from anywhere.

Email me at [email protected] if you would like more information.


Ian Cole
Genesis Capital Group

Jun 17, 2011 9:26 pm

What part of the country are you in?

Jun 17, 2011 10:19 pm

New York City

Jul 9, 2011 1:59 pm

I am looking for people in Raleigh NC.  PM me if interested.  Salary plus must be able to where dual hats while you build your book. 

Jul 19, 2011 3:28 pm

Small RIAs who want the power of big firms should look at Dynamic Wealth Advisors.  You can access TDA. Schwab or Fidelity.  An advisor can join DWA as a rep of their firm...or have their own RIA firm and have DWA do all of the tech and back office stuff.  Their technology package is great and so is their backoffice staff.

Aug 6, 2011 5:59 pm

Discussing your options with a non affliliated firm can ensure that you are making an informed decision.  Liberum Advisor Solutions is a consulting firm that helps advisors understand their options for independence. Give me a call and I can give you a free consultation.

Oct 5, 2011 7:01 am

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