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I think being there for the long haul with a client and helping them navigate the ups and downs would be pretty satisfying. Even if the market does say go up a few % and a custom portfolio didn't fare as well, there is no proof to say on a risk adjusted basis the ideas were flawed. It is all...

It's the investment world. There are so many variables and so many different goals people have that are invested. I think a lot of people have a lot more at risk than they might realize. It is not written in the Constitution that stocks must go up. A lot of people have done well for themselves...

CSwim, I understand your points. I still think, though, that there is far too much a status quo, 'time in the market is what counts' type approach and 'buy and hold' for perpetuity in the asset mgmt game. Even a fool could see a 15 year SPX chart and would see how lofty this market is, and how...

Thanks for the comments, all. I am not nearly as concerned with the logistics of purely passing the needed exam, and getting setup LLC and in my primary state as an RIA, as I am with how I would get AUM. As much as I believe I know about the broad market landscape and relaying the risks as the...

Appreciate the feedback/ideas. If I were to go this route, I would go independent and my selling point would be that I am able to relay to people what is going on in the markets across the different sectors, what the key points are, and to be there when things get rocky and advise on the risks...

I understand the difficulty of it. One of the main things I would say is I would go this route and strike out on my own before I worked for an Edward Jones or other more conventional way, because it's the same salesmanship type gig there, and now only getting commission, and less flexibility in...

I'm talking about a standard RIA which allows one to officially give financial advice. The one that requires licensure in a state and the Series 66 I believe, and then the ADV and prospectus with how the IAR will be compensated whether AUM or hourly fees or whatever. An RIA isn't a hedge fund...

R1234- What if any opinion do you have on the idea of bootstrapping it from the start and establishing a one person practice in terms of is it realistic, and how one would go about raising AUM? As I said, I do not have any audited track records and I'm not interested in running a 'fund'. I...

I get how big of an undertaking this would be. I truly believe I possess great ability to assess whatever the current state of things is across markets (including commodities, and more obscure ones) and understand at least the risks involved, and the implications of, say, if the SPX makes a new...

Mav, For now I'm still just looking at my options for what I can do given my education/experience, and I will contact you at a point where I'd be wanting to talk to anybody you know who would have advice about this RIA option. The main thing is I'm not seeing why you think getting so many...

Mav, Just also forgot to say thanks for your in-depth info and perspective. One other thing is that I'm not looking to manage big pension funds' money and organizations. I honestly don't mind the idea of having to go out and get involved at different conventions and seminars and sell myself...

Looking for something that can list for the long term. The one thing about an asset allocation/willingness to include strategies with unconventional assets, is that when things get bad is actually not an issue from the business POV, because that's when people realize the value in having somebody...

Mav, I would be looking at starting a solo shop. I would be the sole IAR at my own RIA that I would establish with one of these RIA atty firms, for up to $10k, and from there obviously it's all about getting AUM. I think there is a 'personalized', 'customized' trend going on across many...

Think you're right. Just kind of was going through some of my ideas to differentiate what I would be looking to do/open to doing vs. the status quo type allocations. My main questions are the logistics of starting it up and ultimately of course, raising AUM. I can take on risk at my age as far...

I'm looking for some advice and insight into going about starting an RIA. Background is I majored in econ at a top 15 school in the US, and have prop traded but am thinking about a switch to something that, while very challenging I understand, would be more stable instead of such an eat what you...