[quote=mikpanzeri]

Hello all,

I am pondering the idea of becoming a RIA (the small kind, 5M AUM in nyc). Do you know if a RIA can manage an institutional account such as an endowment fund? Also, can I charge performance fees? Lastly, f there is any start-up RIA out there, is there any advice you can give me based on your experience in the business?

Any response is highly appriciated,

Thank you in advance

Mik

[/quote]

With $5mm you will have to go with Scottrade, Interactive Brokers, SSG, Trade PMR (Possibly TD Ameritrade) as a custodian. Schwabb, Fidelity, Pershing and the like require much higher minimums.

Yes, you can charge performance fees.

Thanks. Yes I am looking at those platforms now. However, I haven't made up my mind yet. So be able to charge performance fees are a huge plus for me, because I don't come from an FA role at a b/d but from a sell-side trading desk, so I can generate the alpha (hopefully). I can charge performance fees to any account size? No minimums? Thanks

No - did you get my PM??