Doing Business an an Independent RIA

Doing business as an
Independent RIA

The role of an RIA is to advise others in a wide range of securities-related issues. Direct practice includes giving advise on buying, selling, and investing in securities, while more indirect practice may include publishing reports, analyses, and articles about securities and related areas of interest.
Typical elements of an RIA’s business practice include:

Fulfilling all necessary state or SEC requirements for practice, including Form ADV.
Working as an independent contractor (self employed, or employed for one’s own company), and meeting any registration and licensing requirements to do so. While requirements differ between states, a common licensure requirement is to hold a valid Series 65 license, or both the Series 66 and Series 7 licenses.
Determining a fee policy. Some RIAs charge flat/hourly fees, while many charge a pre-determined percentage of the client’s overall portfolio worth.
Advising clients on proper investments relative to their individual needs, goals, and risk tolerance.
Monitoring and providing reports on clients’ portfolios.
Offering, as desired, additional wealth management and financial services, such as financial planning, charitable giving, estate planning, retirement/trust, and tax services.
Settling and executing trades and managing assets with the assistance of a bank and/or broker dealer.
Working individually with clients to help each meet or exceed their financial goals with regards to their portfolio or other assets.