We help existing RIA firms and those who want to start their own.
Start Your Own RIA.
For existing RIA's who have 4 or less IAR's. (Includes 1 - 4 states)
For existing RIA's who have more 5 or more IAR's. (Includes 1 - 4 states)
For Startup RIA firms, due to the amount of initial work involved and time commitment, we charge an upfront fee of $2,400. This grants you RIA licensing in 1 - 4 states. Each additional 4 states above the first four (4) requires an additional $240 upfront fee. The process is to obtain licensing in your home state first, then other states after approval from your home state. Each state regulator is different, but expect four to eight weeks for licensing to become official. De minimus exemptions allow up to 5 clients (households) without the need for licensing but, there can be Notice Filing requirements even with a de minimus exemption (TX). Assuming you meet the normal qualifications for RIA licensing, we work with you and each state regulator until your firm is approved. Our first year fee is non-refundable, because of the time commitment and work involved in an initial start up RIA firm. However, the upfront fee includes the first (12) twelve months of services, then upon renewal reverts to either a Deluxe or Professional Plan.
The Deluxe Plan is for established RIA firms who have 4 or less IAR's. This includes RIA licensing in 1 - 4 states. Each additional 4 states above the first four (4) requires an additional $20.00 per month fee. The Deluxe Plan fee is a 12-month commitment that automatically renews for another 12 months unless cancelled prior to renewal. There is a $600 initial non-refundable fee to review current documents, plus the first month's fee required to retain our firm.
The Professional Plan is for more established RIA firms who have 5 or more IAR's. This includes RIA licensing in 1 - 4 states. Each additional 4 states requires an additional $20.00 per month fee. The Professional Plan fee is a 12-month commitment that automatically renews for another 12 months unless cancelled prior to renewal. There is a $600 initial non-refundable fee to review current documents, plus the first month's fee required to retain our firm.
Unfortunately, we cannot help you if you are dual registered with a broker-dealer and an RIA firm. The reason for this is that everything we do for the RIA firm would have to be approved by the compliance person at that firm. This means a lot of back and forth and time wasting that we cannot afford. Most compliance people do not have the background that I do and I do not have time to teach them about RIA compliance. Therefore, as a business decision, we choose to work only with independent RIA firms with absolutely no broker-dealer affliations.
Assuming that you meet a state's normal licensing requirements for registered investment advisers, then you should expect to be licensed by your state in four to eight weeks if everything goes according to plan. However, if you have significant disciplinary history or civil lawsuits against you or your representatives, then you can expect lengthly delays and perhaps even a decline to license representatives with a track record of problems. My suggestion to you if you are starting a new firm, or thinking of hiring someone with a poor disciplinary background, is to avoid this issue altogether. The best advice is to not hire them in the first place. If you bring on someone with a poor disciplinary background, then you can guarantee yourself heighten scrutiny from state regulators. In my opinion, it is not a good business decision to hire someone with a poor disciplinary history.
As of today, we do not have an attorney on staff, but we have the ability to retain one if needed in the future. Rome wasn't built in a day and as we grow, we may add a securities attorney on an annual retainer basis. If you have specific legal concerns about securities laws and regulations, then you are free to seek the services of a securities attorney of your own choosing.
We are limiting the number of RIA firms that we take on to twenty-five (25) in order for us to be responsive to requests. Therefore, if you or someone that you know is seeking a knowledgable Compliance Consultant, then give Rick M. Allison, CFP® a call at (904) 460-2700 or reach out to email@example.com.
***Actual forms are completed online. These are just sample printouts.***
Each of the above forms are web forms that are easy to complete and submit to us, so we can review, update or create your forms. The Initial Compliance Consulting Questionnaire tells us the major details about your firm. The Form ADV 2A and 2B forms are simply the SEC instructions converted to web forms. The Policies and Procedures Manuals are a more simplified way of tailoring a Policies and Procedures Manual to your firm, rather than just accepting some boilerplate solution. Our Policies and Procedures Manual is split into two versions. One version is for RIA firms who manage money for clients and may outsource a portion to Turn-key Asset Managers. The other version is for RIA firms who are outsourcing 100% of their money manager to one or more Turn-key Asset Managers. These forms are simple web forms that make quick work of your time in either switching to us for your compliance needs, or utilizing our firm for your startup RIA.
The other forms that are created by our firm are customized to your firm. Examples of these include your Investment Advisory Agreement, Hourly Agreements, Flat Fee Agreements, ERISA Retirement Investor (Participant) Agreement, Privacy Polices, Email Communications and Client Portal Authorizations, Cybersecurity Disclosures, Solicitor Agreements and Solicitor Client Disclosures, CFP® Code of Ethics Disclosures for firms with CFP® Professionals, Services Comparison and Fee Disclosures to document (ERISA and RIA firm) fidiciary standards.
We can schedule an online meeting to show you how simple our web forms are to complete. Contact Rick M. Allison, CFP® at nine zero four - four six zero - two seven zero zero or rick at marianfs dot com. Or, you can book an appointment with Rick M. Allison, CFP® here.