Starting your own RIA is like taking a long journey. You begin with the destination in mind—independence, control, no more splitting revenue with your parent firm. The journey is worth it, and you’re ready to jump in the car and go.
But how do you get there? How long will it take? What obstacles should you watch out for? Is there anyone who has made this trip before who can help you plot your route beforehand so you don’t waste a bunch of time and money on unnecessary detours?
And how can you take this new journey without losing your current job before you’re ready to make the jump?
That last important question is where we started with Fusion Black Ops—the industry’s only undercover, totally confidential RIA breakaway service.
Our team at Fusion Financial Partners has literally launched hundreds of RIAs, and a common problem we saw was advisors who unknowingly alerted their employer (wirehouse or IBD) of their plans and suddenly found themselves jobless, sometimes months or years before they were ready to transition.
It all comes down to this: Launching an RIA is a long, in-depth process with countless decisions to be made, but if you are currently employed as an advisor, vigilance and discretion must be top-of-mind every step of the way as you journey from point A to RIA.
Today, I want to talk about three ways Fusion Black Ops helps protect advisors as they prepare to launch an RIA:
- Black Ops protects you from losing your current job as you prepare to launch your RIA
- Black Ops protects you from common obstacles that have gotten in the way of other advisors as your launch date approaches
- Black Ops protects you from the high failure rate of new RIAs after you’ve launched
1. We Protect You From Losing Your Current Job Before You’re Ready
If you’re currently employed at a wirehouse or b-d, then you have to be especially careful about planning your exit. Large firms often monitor email and internet activity for red flags regarding illegal activity, but also for keywords like “RIA” or other custodian names that may indicate you are in the beginning stages of launching your own RIA.
The last few years have seen RIAs gobble up market share at the expense of wirehouses and wirehouses recruiting new advisors at a fraction of the pace of RIAs. So it’s easy to see why they would do everything in their power to keep advisors from jumping ship.
If your employer finds anything that looks like you’re laying the groundwork for an exit (especially if you’re forming a competing firm), they won’t hesitate to show you the door. And if you’re not ready to start your RIA, the loss of salary can be devastating to your plans.
This exact situation is why we developed the most secure transition process in the industry with Fusion Black Ops. The entire Black Ops program is built to protect your identity until the moment you’re ready to launch. How do we do it?
- Encrypted communications – We only use fully encrypted communications channels so you know our conversations will not be monitored by your employer.
- We negotiate on your behalf – We leverage our reputation to start relationships with custodians and vendors on your behalf without sharing your information with anyone.
- Code names – We wrap the whole operation up in code names so you can protect your plans until you’re ready to share them.
2. We Protect You from Making Bad Decisions in Building Your New RIA
During the decades we’ve spent helping RIAs get up and running, we’ve seen it all. We’ve seen new RIAs explode on to the scene and see rapid growth from day one. We’ve seen others limp along for a while before they got their feet under them and figured it out.
And we’ve seen promising new RIAs brought down by a few bad decisions that could have easily been avoided with a little guidance.
We built Fusion Black Ops as a turnkey program where we handle everything for you. With one call, you’ll have our team of experts at the ready, helping you make the right decisions in every area of your firm:
- Coordination with vendors and custodians
- Branding & marketing
- Full-service project management
- Website design
- And everything else that goes into starting an RIA
Unlike other RIA launch services, our support doesn’t end when you open your doors for the first time.
3. We Protect You from the High Failure Rate of New RIAs After You Open
Most RIA launch support programs will carry you through to the day you open and then cut you off. That works for some advisors, but we think running an RIA is just as complicated as (if not more than) launching one.
That’s why we offer an array of post-launch support services, including:
- 24/7 IT and cybersecurity support – We offer a dedicated outsourced IT department that specializes in the unique information technology and cybersecurity needs of RIAs.
- Tech stack optimization – One of the most common problems with RIAs is misalignment or underutilization of the existing tech stack. We help you identify which tools you should be using, and get the most out of the tools you already have.
- Growth consulting – Through marketing or M&A, we help grow your RIA to where you want to be.
- Process improvements – We help you minimize the friction in your processes.
- Human capital – Through a unique blend of industry experience and psychoanalytical tools, we help you make sure your team is properly aligned.
- Estate planning and insurance solutions – Designed to meet the needs of RIAs seeking to add solutions, enhance client service and grow revenue.
In short, Fusion Black Ops is a safe, confidential way for you to spend more time strengthening client relationships and preparing for transition while leaving blueprint design and transition management to us.
Want to learn more? Start the conversation today.