Joining an RIA: Five Questions Every Advisor Should Ask Before Making the Move

As the financial services industry continues to evolve, more advisors are exploring the independent Registered Investment Advisor (RIA) channel. Whether it’s the promise of flexibility, improved technology, or a deeper planning philosophy, the appeal is real—but so are the trade-offs.

If you’re thinking about joining an RIA, here are five critical questions to ask yourself before taking the leap.

1. What Am I Solving For?

Start with clarity: what’s missing in your current environment?

Are you looking for more control over your investment philosophy? Greater emphasis on financial planning? Less pressure to sell proprietary products? Or simply a better quality of life?

Understanding your motivation will help you evaluate RIA options more clearly and avoid jumping into another structure that doesn’t align with your goals.

2. Will I Have the Right Support Without Losing My Identity?

One of the perceived benefits of joining an RIA is operational support—compliance, billing, trading, technology, marketing. But not all firms offer the same level of infrastructure.

It’s worth asking:

• What tasks will I be expected to handle myself?
• Is there a clear process for client onboarding, reporting, or account maintenance?
• How flexible is the firm if I have my own approach or brand?

Support is valuable, but not if it comes at the expense of autonomy or your unique client experience.

3. How Does the Firm Handle Client Relationships?

Every RIA has a slightly different model. In some, advisors fully “own” their client relationships. In others, clients are shared across teams or advisors are expected to refer within the firm.

Important considerations:

• Are client relationships portable if you ever leave?
• How are referrals, handoffs, or conflicts managed?
• Are there clear boundaries between your book and the firm’s?

Make sure you’re comfortable with how client relationships are structured—especially in a team-based environment.

4. What’s the Compensation Structure—and Does It Scale Over Time?

Compensation is often more transparent in the RIA space than in broker-dealer environments. That said, payout percentages only tell part of the story.

Ask:

• Are there tiers, minimums, or revenue splits?
• Does the model reward growth or equity participation?
• What happens if you slow down or retire?

A strong structure should reward both individual contribution and team collaboration—without leaving upside on the table.

5. Does the Culture Fit the Way I Want to Work and Grow?

Culture isn’t about ping-pong tables or remote work policies—it’s about how decisions are made, how success is defined, and how people treat each other.

Think about:

• Is the firm more entrepreneurial or more institutional?
• Do advisors collaborate or operate independently?
• How is leadership structured, and are voices heard?

Fit isn’t just a feel-good idea—it can directly affect how well you perform, how long you stay, and how satisfied your clients are.

Final Thought: Think Beyond the First Year

The transition to an RIA can feel energizing—new systems, new branding, new opportunities. But the real test comes after that initial ramp-up.

Make sure you’re choosing a platform or partner that supports your vision not just for the next 12 months, but for the next 10 years. That includes growth, succession, lifestyle, and purpose.

The question isn’t just, “Is this better than where I am now?”
It’s: “Is this where I can do my best work—and build the future I want?”confidence—whether that’s retirement, a new partnership, or simply a better balance.