I ask this because I have been in a bit of a soul searching mode lately.
A bit about me: my main source of income is my RIA - for those unfamiliar, RIA's manage client portfolios and/or sub-advise portfolios of other firms. It has been a decent way to make a living for the most part but lately there seem to be headwinds.
The past year has been tough on many diverse model based strategies; many RIAs including myself have experienced some amount of client redemptions. An added irritant is the 'robo-advisors' who do plain vanilla strategic asset allocation ('SAA') for zero fees or almost zero fees - we tactical RIAs have lost a lot of business to the robos.
Another depressing thing looming is the potential new SEC regulation banning or limiting derivative based ETFs and funds, which is the bulk of what I trade for clients.
I am left wondering if I might just be better off closing shop and going to work for a large firm (in what capacity I have no idea). Or should I continue running my RIA but purchase a second unrelated business to smooth out my revenue stream through the lean times.
So I am very curious what you guys are doing to earn a living? Are you living off your trading gains? Do you work in the industry? An unrelated industry? Are you a business owner? What kind of business?
Anything you can share would be helpful in generating some fresh thinking in my own head. Thanks.
A bit about me: my main source of income is my RIA - for those unfamiliar, RIA's manage client portfolios and/or sub-advise portfolios of other firms. It has been a decent way to make a living for the most part but lately there seem to be headwinds.
The past year has been tough on many diverse model based strategies; many RIAs including myself have experienced some amount of client redemptions. An added irritant is the 'robo-advisors' who do plain vanilla strategic asset allocation ('SAA') for zero fees or almost zero fees - we tactical RIAs have lost a lot of business to the robos.
Another depressing thing looming is the potential new SEC regulation banning or limiting derivative based ETFs and funds, which is the bulk of what I trade for clients.
I am left wondering if I might just be better off closing shop and going to work for a large firm (in what capacity I have no idea). Or should I continue running my RIA but purchase a second unrelated business to smooth out my revenue stream through the lean times.
So I am very curious what you guys are doing to earn a living? Are you living off your trading gains? Do you work in the industry? An unrelated industry? Are you a business owner? What kind of business?
Anything you can share would be helpful in generating some fresh thinking in my own head. Thanks.
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