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Getting Your RIA Started: Entity Formation 

When you are starting a new RIA firm, there are many considerations in organizing and operating the firm that must be addressed. Taking your time to get this done right pays off once you are serving clients and seeking customers or vendors. Some of the ideas to consider include: 

  • Entity selection – Limited Liability Company, sole proprietorship, Partnership, Corporation, etc.
  • Impact of the 2017 Tax Law changes on your choice of entity
  • ·Custodian for firm accounts – services, reputation, minimum size/costs
  • ·Office – bricks and mortar, virtual office, client meeting space, document storage and more
  • ·Website – your face on the internet, where potential clients and partners go first to learn about you and what you do
  • ·Software – trading and reporting, accounting, client relationship management, planning, account aggregation, compliance, and more
  • ·Client experience – what you want the client to see and feel, their impression of you and the firm
  • ·Staffing levels – advisers, admin, operations, reception and many more areas

At Mentor RIA Consulting, we have been engaged in many aspects of the creation and development of small RIA firms over the years. Whether you are strategizing about how your new business is going to work or in the implementation stage for the firm, we can help you understand the questions to ask, how to evaluate your options in building the firm and what to do with the answers you get from potential partners. 

NEW…After the Tax Overhaul: What Type of Entity Works Best? 

For questions about this aspect of our services and how Mentor can help you start or expand your RIA firm, please Contact Us.

George Chamberlin & Mentor RIA Consulting © 2013-2020

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