How to make your RIA transition most effective

Now that you’ve chosen a registered investment adviser “(RIA”) that is right for you, it is important to understand all aspects of a move and to stay relevant during the process.

Transitioning to a new RIA can be a complex process that requires careful planning and execution. To make your transition most effective, Golden State believes the following components can assist in a smooth transfer.

1.  Collaborate with your RIA: As you transition to the new RIA, it is important to collaborate with the firm for a seamless transfer of client assets and accounts. This includes working with custodians, fund transfers, and updating account information. Golden State has a clear step-by-step process and dedicated transition team that assists with the entire process to ensure a smooth transition.

2. Build your brand and procure technology: Whether you are creating a brand from scratch or building upon an existing independent practice, Golden State’s marketing and technology leaders work directly with advisors to support the desired business needs. For marketing, a brand build-out and PR focus are on the priority list for an initial launch of your business, followed by other marketing support. For technology, your tech consultant will source hardware and software that meets your business needs, which is accompanied by a set-up so your business is technologically sound and current.

3. Communicate to clients: It is highly recommended to seek private, ongoing consult with legal counsel with specialties in securities regulations as well as your jurisdiction to discuss current contractual obligations, resignation permissions, protocols and allowable client communication guidelines. Golden State has the necessary tools to help you achieve a timely and transparent communication plan and helps advisors take the steps needed to experience a successful transition.

4. Monitor progress: At team Golden State, you have a transition team that is dedicated to your specific transition. Once your transition is complete, the team continues to be at your side to help build your practice and thrive.

Golden State welcomes seasoned advisors who seek greater autonomy to build enduring practices. Operating under your own DBA, you are afforded an extensive support network to help grow and scale your practice. Contact us to learn more how we can support your business.