Part of a BD now, thinking of going on my own as RIA. Costs would be about 50% less, which makes it seem like an obvious choice. Have a deep family friend relationship with current firm, though. I don’t want to burn a bridge, but am I crazy to be a bit upset that the relationship could keep me from doing what I think may be right? Really struggling with that part of the decision.

like
Posting as :
works at
You are currently posting as works at

Not sure if cost savings or profits are a strong enough reason to make a move. It will be costly either way and there are always in known costs and consequences. If it’s truly in you and your families best interest and they are truly a deep family friend they will support your decision. With that said, I am an independent IAR going RIA and you couldn’t pay me to work with a BD. I truly believe I am a better advisor for my clients as an independent RIA. But profits can’t drive that decision. My two cents. Good luck.

like

This is a business decision. The only reason for anyone to get upset is the loss of income. If anyone is serious about your success they’ll be happy for you, wish you well, success and leave the door open for you to come back.
Just explain that this is a as business decision, the opportunity and maybe they’ll come back with a really good offer.

Related Posts

Hi,
I'm frontend developer with 5 years of experience. I'm planing to change my career as a devops engineer.
Anyone can please suggest me what to learn and how to proceed

like

Does anyone know how to become an independent contractor?

like

I see different thoughts about online certifications and boot camps if you don’t have experience. Any thoughts? Also what’s the best way to break into tech?

like

I am a Mechanical Engineer currently in Structural Analysis domain for 2 years and Want to change my domain to Data Engineering or Big Data Developer. What should be my approach and ideally how long would it take to get into this industry ?

likesmart

For those that have been in awhile and looking closely at retirement. Are you switching careers or if you did how did it go? What advice would you give someone four years out from retirement?

Hi Sharks, I have received the following offers from Infosys -13lpa ,@techmahindra-16lpa
No offers in hand but got selected in following compaies
@wonderbiz
@chubb
@valuelabs
@trianz

Can you suggest which company offers better career growth?

like

Should I leave my current agency job for a promising start up, or stay?

like

Which offer is better?
€100K per year in Netherlands (with 30% ruling) OR
45000 AED / month in Dubai?

For a family with a kid.
Tech stack: SRE/DevOps/ Cloud architect
People staying in Europe and dubai please comment.

My priorities: Long term stay, better education , quality life, location with better security, law n order and less hussels.

like

Anybody go from agency-side to working at an ad tech company? What’s it like?

like

26 y/o JD, CPA, CFP --- what are my odds landing a career with the FBI?

like

Within my first year of Consulting, really struggling with the hours amongst other things. Spoken to a couple of people internally and the advice is to get on to projects with bigger budgets and therefore bigger teams/more support. I want to wait until I hit the one year mark before making a decision on whether Consulting is for me or not. Curious to hear from other experienced hires..how is/was your first year?

The old administrator at my department won't allow me to write on what I want, even though I thought that was implicit when I joined. Can I push her to allow me to take control of my research?

like

I will be starting an FDD position in August right out of college. Do you think 3 years in this industry will provide enough relevant experience to make the switch to CD. I am also planning to get my CFA if that is at all relevant.

like

PwC partners have any comments on the cohort model? A lot of complaints in PwC bowl arising from the disappointing adjustment and the constraints the model has imposed on career growth

like

What are some exit opps for Amex product management (2 YOE) sr analyst. Trying to jump ship

like

Director of Marketing wants me to write some conversation snippets for a chatbot, but I think those things drive potential clients away. Trying to figure out if I should tell him or not

like

Art teacher looking to take my transferable skills to big tech if anyone has any advice!

like

I need a change so badly I’m on the verge of tears almost every day. I’ve invested so much preparing for this career. I know I have so much talent that’s not being utilized. I feel stifled and stuck. I don’t need the health insurance but I’m terrified of giving up financial security. Any suggestions in NH for a sp ed with a MS in ed tech integration and a CAGS in Ed leadership. I am driven by identifying systems and creative problem solving and also have a background in art & design.

like

Hi all. I am currently working as a Senior associate, compliance operations in Amazon. Prior to this I have worked with HDFC BANK as a Deputy Manager for 2 years in operations. I need suggestions for my next switch..

like

More Posts

Not mine, but eye catching.

Post Photo
funnylike

We got the official address. When do u think it will be functional?

like
like

Transitioning from com. lit into tax controversy?

I have a tax LLM and started my career out of law school doing M&A tax at a big4. After 9 months, I got out of big4 transactional hell and into whatever litigation I could find. I now practice commercial lit but would welcome the opportunity to eventually transition into tax controversy (which I wasn’t able to do before). Does my commercial litigation “break” hurt my prospect? How long can I stay in com lit without hurting my chances even more?

like

Hi Guys, please help a fellow fish out!

Can you share tips, certifications, resources, courses to excel in the Program manager role, and the kind of salaries which can be expected for someone with 8+ years of experience?

CCTC: 30 (29+1) at a Product based mid-level start-up.

like

Does anyone have any insights on what a typical Sr. Associate Director makes at Boehringer Ingelheim? I have a range of 170-180k which I think is fair but don’t want to be underpaid. Also, any information regarding retirement planning or medical/dental benefits would be helpful. Haven’t gotten much out of HR. Thanks in advance!

like
like

What is the scene in the hybrid model in Capgemini?


Is it being followed strictly or still there is any flexibility?

like

What is the most realistically portrayed military story in a movie you’ve seen?

like

Is there any remote work available with base pay?? I’ve exhausted myself with Indeed, Zip Recruiter, and Glassdoor job searches and my unemployment is over 😭😭

like

Tips for how to start off on a good foot at a new job? Also on how to balance that with taking ownership of the work/asserting yourself, especially when the people there are used to you freelancing (which was less assertive, and similar work but a lower title)… thanks!

like

Hello, I am a 4 year consultant/veteran looking for a referral for Deloitte, EY, PWC, BCG if anyone wants to connect. Thank you!

like

Technology implementation manager in Big Four looking to transition to the banks. Anyone know of a role that they can refer me to?

like

Pretty sure the saga of the slave driven company has come to an end I’m the only HR person at this company. Friday I had full admin rights, and went to check email Saturday; account locked. Payroll/HRIS locked out. PEO service says no pending termination is on my file. Went to the office today to get my things just in case. Located in CA. Was about to report numerous violations too. All because I couldn’t solve 8 months of payroll issues in a day. 🫠 Good riddance, I’m getting a lawyer.

like

Should I lump sum $150k into the market or DCA? Just looking to grow the money, no other short term plans.

like

What is the worst reaction you’ve had after giving your notice? I just gave notice and I have never had a boss that tried as hard to make me change my mind as this one. Offered me basically anything I wanted.

like

Can someone suggest good material for full stack web developer and any platform to learn and get good real life experience

like
like

Any performace testers in nagarro.. plz dm

like

Anybody here at Barclays Corporate Banking in NYC? Need advice and numbers..

like

Additional Posts in Independent RIA

Any thoughts on TD Ameritrade Institutional as a custodian? Used to NFS/Fidelity, TDA seems much more efficient and user friendly.

like

Anyone with experience using a VA that serves financial advisors specifically? We are considering outsourcing some of our administrative tasks.

like

Anyone interested in doing a collaboration on a YouTube video? Want to bring in other perspectives.

likesmart

Do we need to do anything special to accept international investors?

like

What’s it cost to work with an attorney when leaving a firm?

Average salary for a Senior Associate who’s in the process of getting their CFP?

like

Are any RIAs charging for maddening 529 plans? If so, how?

like

ADV clarification - i am now part of a smaller RIA, no longer affiliated with a B/D. I am trying to fully understand ADV requirements. Are there 3 main parts? Part 1, Part 2A and Part 2B?

like

What is your experience with The Bill Good Marketing system?

like

Texas FA’s when is your office re-opening?

likehelpful

Our goal is to add advisors since we are in a growth mode across the US in twelve offices. We’re offering culture, significant payouts, succession planning, and more. RSVP to Connie.

Do CFP CPA CFA and MBA make that big of a difference in the RIA world? I’ve seen very successful individuals with all 3 and without any at all

like

How do you advertise?

like

Anyone use SmartAsset for leads? Any success?

likesmart

Anyone charging for held away assets?
How are you positioning this? Do you charge the same amount as assets under management or is it lower?

Looking to refer a friend in the Las Vegas area to an independent advisor for term insurance and basic retirement planning.

At what point do you fire a client? I have a 49 yr old client w/drawing $50K out of a $72K IRA (trad) to “pay off her home”, a move I completely disagree with/advise against.

helpful

I’ve been in the industry for 23+ years, 16+ of those spent as a Producing Branch Manager. I hold S7, S63, S66, S24 and I’ve completed the education for the CFP (need to pass the exam). I excel in relationship building and providing exceptional service. I’ve only been on the full-service side for the past 2 years and my book of managed money is about $10M, with another $10M+ being self-directed by clients. I’d love to find an RIA job, what type of role would be suggested?

likesmart

Working for a small RIA on 1099. I receive about 80% payout AUM and the firm covers port mgmt, marketing, and a client service rep. However no other benefits such as office, health, 401k, bonus. Stay?

I am seeking Financial Advisors with established books who would like to explore independence. Independent Registered Investment Advisors (RIAs) are professional independent advisory firms that provide personalized financial advice to their clients. We are registered with either the Securities and Exchange Commission or state securities regulators. Independent advisors are trusted with over $5 trillion of their clients’ wealth. All queries will be held in strict confidence.

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal