Fidelity Investments has introduced a tool that helps reps plan out the transition to an RIA practice.
The online guide
is available at ria.fidelity.com and includes "a check-list and
timeline for addressing virtually all of the critical areas associated
with establishing a new RIA practice," according to Fidelity.
The tool provides
help on areas ranging from financial projections and registration to
compliance and opening accounts, according to Fidelity.
"The increase in new RIA practices
over the past few years has become unprecedented, with many of these
new entrants establishing wealth management practices," says Scott
Dell'Orfano, executive vice president of Fidelity Registered Investment
Advisor Group. "Based on our experience with new entrants, much of this
movement is, among other things, driven by a desire to manage and build
equity in their own business."