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Starting as RIA, while still in school?

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Jul 28, 2014 8:17 pm

I am going to be a junior at a major state school this year, majoring in finance.  I am currently interning at a very reputable advisory firm where I have met some great people and have experienced 10 weeks of the life of an FA.

While I love the job and the opportunity is great, I see no reason why I can't do this without the firm.  Plus, I really don't know if I can stand behind the investment philosophies promoted here.  I would prefer to have more autonomy and higher payouts.

What do you experienced professionals out there think about starting midway through college by firing up an LLC, registering with IARD, completing ADV forms with myself, and getting the series tests done?  I would then use Interactive Brokers as my platform, attempt to build the business locally and amongst my family first, then hopefully have the money to begin leasing an office in the area after graduation.

I realize I am looking at a lot of tough work but I believe I can put my nose down and get at it, and I think most of the resources necessary are at my disposal online.  I know it would be a bumpy road, but I can afford to take it on right now and potentially reap great rewards.

Bonus:  What sort of capital would this require?