Financial Advisors

What’s a good third party platform for smaller clients who need long term growth. I’m looking for good trail comp options. I don’t want to open smaller advisory accounts that require annual reviews.

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works at

Sounds like you're not interested in what's best for the client.

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So you want income with no responsibility? The annual review is too much work? I hope I'm reading into this wrong. If you dont qant to do the work and look out for the client's best interest, don't take them.

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SEI does a reasonable job managing the investment but I don't think a third party gets you out of the annual review requirement

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I mean he can be a responsible advisor without the compliance of an annual review. Elite Access with Jackson is a nice low cost VA. He also could be a terrible advisor haha

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Have you looked into Vanguard?

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I’m not really looking for an advisory platform, I have more of those available than I need at LPL. Instead, maybe a mutual fund provider with level comp. Or possibly an inexpensive investment only VA.

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I’m in a situation where I’m blessed to have too many referrals and can’t give proper attention to all of them if they become advisory clients. I’m in a bank and am expected to service all of the opportunities if possible. I’m trying very hard to block out enough time each week to devote to my best clients who are paying me an annual advisory fee, but also not ignore the smaller client who needs help. The financial institution isn’t interested in hiring more help. I feel like I’m trying to do what’s in the best interest of these “transactional” clients who don’t want financial planning but instead just want a solution to a need. I’m not comfortable charging A share fees for that type of business. I would rather that type of client not have an upfront cost if possible, but instead pay a smaller trail maybe, but I’d be satisfied making a one time 1 or 2% commission without a trail. I’m just trying to find out if there is a good solution. Every advisor has a different situation. Many advisors on here bitch and moan because they can’t figure out how to get in front of more people. My situation is the opposite, I’m struggling to get my numbers down to focus on quality not quantity. I’d prefer to have just a couple hundred clients instead of a few thousand customers. I’m considering leaving and building my own practice from the ground up, but the timing never seems to be right.

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Make a business plan and service model. I'm an indy RIA with same issues. Set a baseline for service clients and all others below that make transactional in either an A share account or do target dates on a fee based account. For the RIA you can email or do a phone review. Then call when they are close to you're baseline. Or do the RIA and charge an annual planning fee until they are above your minimum.

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We’re looking at RIA options. We’re also working through revamping our service models and trying to pin point the right pricing for hourly advice in our market. Thanks for sharing FA3.

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Yes, for many years I would open brokerage accounts for client with less than 25k and buy them Vanguard funds and ETF’s. Then I got tired of working for free and have been trying to find a viable option ever since.

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