To start a financial advisory firm you need SEC or state registration, a Series 65 license, fiduciary compliance systems, client onboarding processes, and a client acquisition strategy. Most RIAs launch in 3–6 months with $10,000–$50,000.
Pass the Series 65 Uniform Investment Adviser Law Exam, which qualifies you to act as an investment advisor representative without a broker-dealer affiliation.
Register with the SEC (if managing $100M+) or your state securities regulator (if under $100M); file Form ADV Parts 1 and 2 through the IARD system.
Register as an LLC or corporation; verify your state’s rules on RIA entity structure and any bonding or minimum net capital requirements.
Create an ADV brochure, compliance manual, and code of ethics; document your fiduciary duty to act in clients’ best interests at all times.
Partner with a custodian (Schwab, Fidelity, TD) or a turnkey asset management platform (TAMP) for trade execution, billing, and reporting.
Charge assets-under-management fees (0.50–1.25%), hourly fees, flat fees, or retainer; be transparent and ensure fees are disclosed in your ADV.
Invest in financial planning software (eMoney, RightCapital), a CRM (Redtail, Salesforce), and secure client portals for document sharing and signing.
Leverage your professional network, host educational seminars, build referral partnerships with CPAs and attorneys, and invest in niche-focused content marketing.
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Yes. You need to pass the Series 65 exam and register as an investment advisor (RIA) with the SEC or your state. If selling securities for commission, you also need a Series 7 and broker-dealer affiliation.
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