10 Questions Wirehouse Advisors Should Ask Themselves Right Now

The world of wirehouse advisors is changing. While some may enjoy a comfortable status quo, a new undercurrent of vulnerability is undeniable. Don’t mistake this message for scaremongering — it’s actually a wake-up call.

At AdvisorLaw, we’ve seen successful advisors — even top producers — face unexpected exits. The tides can turn quickly, and what was once tolerated might no longer be.

So are you exposed? Here’s how to find out.

10 Questions To Ask Yourself

Before trouble brews, take a deep breath, and answer these questions with brutal honesty.

1. Fit Check: Does your business model still align with your firm’s expectations, in terms of size and service offerings?
2. Client Comfort: Are your clients a good fit for the firm’s current clientele profile?
3. Investment Alignment: Does your investment philosophy mesh with the firm’s evolving investment strategies?
4. Discretionary Dilemma: Do you manage nondiscretionary assets, which may face stricter scrutiny?
5. Team Tensions: Are there unresolved conflicts within your team that could escalate?
6. Office Animosity: Is there non-business-related friction in your work environment?
7. Past Imperfections: Do past mistakes, even unintentional ones, worry you?
8. Rule Clarity: Are you confident that you understand all of the rules governing your practice?
9. Leadership & Policy Shifts: Are there leadership changes or policy updates that might lead to stricter enforcement?
10. Shifting Standards: Have you noticed the firm lowering its tolerance for certain behaviors?

Feeling Vulnerable? It Might Be Time To Consider An RIA

If these questions raise concerns, you’re not alone. Many successful advisors are questioning their long-term security within the wirehouse model. But here’s the good news: there’s another path.

Charting Your Own Course: The RIA Advantage

By forming your own registered investment advisor (RIA), you gain independence, flexibility, and the freedom to serve your clients the way you see fit. AdvisorLaw can help you navigate every step of the RIA formation process.

• Business Structure: We’ll guide you in choosing the right legal entity for your RIA, such as a sole proprietorship, LLC, or corporation.
• Registration: We’ll handle the complex RIA registration process, saving you valuable time and maintaining accuracy.
• Ongoing Compliance Support: AdvisorLaw doesn’t stop at formation. Our team of experts will help your RIA adhere to all federal and state regulations, including SEC registration and ongoing compliance requirements.
• Technology & Operations: We can connect you with the right technology providers and help streamline your back-office operations for maximum efficiency.

Don’t Wait Until It’s Too Late: Contact AdvisorLaw Today

The decision to leave the wirehouse and form your own RIA is a significant one. But with the right support and guidance, it can be the most rewarding step that you take in your career. AdvisorLaw will be your partner every step of the way, supporting a smooth transition and empowering you to build a thriving, independent practice.

Ready To Break Free? Contact AdvisorLaw Today

Schedule a consultation with AdvisorLaw, and let’s discuss your vision for your dream RIA practice. We’ll answer your questions, address your concerns, and help you develop a personalized roadmap to success. Contact us today for a consultation. We’ll answer your questions and help you decide whether forming your own RIA is the right move for you.