Wall Street Critic Bill Singer Revisits His 2009 Reform Proposals
SETTING UP YOUR OWN RIA - HOW DOES IT FEEL TO BE ON YOUR OWN?
In Part I of this series, I reviewed the regulatory and technological changes driving the financial industry to the day when I believe most brokers will have to consider becoming investment advisers. In this Part II, I will review what it means, as Bob Dylan said, to be on your own - the decisions you have to make, and the partners you have to choose to succeed. READ
The RIA Times They Are A Changin'
If you've been a successful broker long enough to remember Bob Dylan then you must have thought about leaving your brokerage firm to start your own firm as a registered investment adviser ("RIA"). But if you haven't done so yet, then get ready to do it now. Historic changes in regulation and technology are converging in a perfect storm that will transform the financial services industry. Over the next few years, every broker will have to consider becoming an RIA.
In this two-part series, I hope to explain the trends that are now forcing this fundamental change, and what you can and should do to protect yourself and your clients. These insights come from more than 30 years of personal experience as regulatory counsel for some of the most innovative firms on Wall Street. READ