I currently work at an RIA where I essentially just answer calls. I want to manage clients and own my book of business. How do I transition without being able to build a book of business on the side while working at my current RIA?

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Talk to your current management and see if there is any opportunity there. If not seek out places where you can.

You know what, you’re completely right. I’m trying to find a perfect exit and it’s not. I really appreciate that advice.

What is preventing you right now? Are you licensed?

I have my 65 but the place I currently work doesn’t allow you to own that book of business and you also have to be promoted to the position. Right I just answer calls and give investment advice which turns into referrals for the people that are managing the book of business.

I'll echo what others have said: Have you asked for what you want? If so, what has been the response? You won't be able to "build a book of business on the side." That's just not allowed in either the RIA or B/D space. Your firm needs to know what you're doing.

Yes they know but you have to be promoted to that position. I know I can manage a book now because I done it. I just wasn’t at a place where you own it. I know I’m not able to build a book on the side. So my question is how do I make that transition to a place that will allow me to manage a book now and own it. I have a place in mind but there isn’t a salary. So I can’t just quit my current position and go there and hope to that I get enough clients in time to pay bills. What I’m trying to figure is how to properly make that jump. I hope this coming across clearly.

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