2nd Career Help

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Jul 31, 2009 4:44 pm

I’ve been out of this biz for a long time, 15 yrs and am coming back, as an RIA/IAR or some such. - Not real interested in a wire house, been there, done that with a regional then went indy with Integrated Resources (which ages me no doubt). - Ideally I could find some set-up where I could build a book of business to $8-10MM AUM then get with a TD Ameritrade/Fidelity as custodian and just be my own RIA. - I have modest goals to get to $20-25MM to stay state regulated and ride my book to retirement.

  - Problem is that a few locals I've talked to have no interest in me building my own book, duh, only to leave in a couple of years. I could easily do my own RIA but having others around to make sure I'm doing admin/tax/ even investments correctly would be a plus.   Any suggestions would be appreciated.   J
Jul 31, 2009 7:21 pm

Ice, I don't have a series 7 anymore (though I am life licensed and since I kept my CFP up to date I don't even have to take a test to be an RIA) besides, I don't I fit into a typical rookie slot.  If I could get away w/o a 7, that'd be fine with me doing fees and insurance commission

- The stepping stone part, is about any contract language, so there's no confusion about whose clients they are. - I don't think I'll need a lot of help to get going, except some admin help... and a name/image so I don't look like some guy working from home out of a closet, since I plan to do some worksite seminars for marketing. I thought that if I go to a wire w/o a 7 they'll stick me on some crummy contract...which I won't sign anyway.   Ideally I'm looking for a Re/Max-type place for RIAs where I can pay my own expenses, share some commission and own my book.  In San Diego, LPL use to have exec suite-type places for advisors to rent while they were building their biz... but those days are long gone. - That would be the ideal set-up for me.