I’m an IAR with Raymond James I own my own book and co own my branch with another advisor and have a couple advisors we charge a small override to. Curious who has made the move from that side to either forming their own RIA themselves or utilizing an RIA custodian. I spoke with New Edge Advisors who is RIA custodian. They said on the Client side, they would have a small amount of paperwork to do, but all their logins client statements ect would stay the same.
I’m just wondering for those who made this transition what did it look like? Any pain points? Any hidden costs? Join an RIA custodian or form your own? Right now 97% of my business is fee based so I could do away with commission base business and Finra. T12 is $850k the branch I co own t 12 is 2.1 mil.