Breakaway Advisor Services | Independent RIA Transition

Breakaway Advisors Compliance Services

For Advisors currently affiliated with a Broker Dealer that are considering going Independent, Vigilant can help guide you end-to-end through the Registration Process and On-Going Compliance.

Vigilant has seen a trend of more Breakaway Advisors and common themes we see as to the reasons Advisors breakaway from their Broker Dealer are listed below.

Top Reasons Advisors Choose to Break Away from their Firms:

Maximize Your Earning Potential

Seize the opportunity to increase revenue and retain a larger share of profits, unlocking financial growth and success on your terms.

Unlock Greater Freedom and Flexibility

Gain the freedom to set your own direction, build meaningful relationships, and pursue your goals without restrictive constraints.

Achieve Full Autonomy in Decision-Making

Make independent decisions and implement business strategies your way, ensuring a personalized and more efficient approach to serving clients.

Take Control of Your Brand and Marketing

Have complete ownership over your firm’s brand and marketing strategies, with no external restrictions or unnecessary oversight.

Customize Investment Strategies for Every Client

Tailor investment strategies to meet each client’s unique needs, without limitations imposed by a firm’s guidelines.

Build Stronger, More Transparent Advisor-Client Relationships

Cultivate closer, more transparent relationships with your clients, fostering trust and loyalty for long-term success.

What do Breakaway Advisors need to Set Up a Registered Investment Adviser (RIA)?

As an Award Winning and Industry Recognized Compliance Firm, we focus on delivering each and every client with customized and tailored servicing designed to fit their specific needs.

Vigilant can help Breakaway Advisors with the following listed below as they consider becoming an Independent Adviser.

SEC Registration Services (and Transition Planning and Assistance)

When registering with the SEC, Vigilant can administer and lead the process in preparing the ADV Part 1, Part 2 and/or Part 3.
This Service also includes a customized and tailored Compliance Manual and Code of Ethics.

On-Going Compliance Services

Outsourced CCO Services – Vigilant to serve as the named Chief Compliance Officer (CCO) on the ADV.
End-to-End CCO Support Services – Vigilant to provide an in-house CCO or dual-hatted CCO (i.e., CFO/CCO, CEO/CCO) with End-to-End Support throughout their entire Compliance Program.
Targeted CCO Support Services – Vigilant to provide tailored Compliance Support Services designed to Support an in-house CCO or dual-hatted CCO at a certain amount of hours annually. Examples of where Vigilant can support Advisers with this service is with the 206(4)-7 Annual Review Report and On-Going Testing, Regulatory Filings, Review of Marketing and Advertising materials, monitoring Code of Ethics activities, Compliance Trainings, IAR On-Boarding Support, drafting the Compliance Calendar, drafting the Risk Assessment Matrix, and much more.

Custodian Introductions

As you consider going Independent, we either see Advisers retain the Broker Dealer they affiliated with as their Custodian or look to make a switch and use a different Custodian for when they become Independent. Vigilant can help make introductions to a Service Provider that can best align with your needs.

Broker Dealer Introductions

For firms considering switching to a different Broker Dealer looking to keep an Annuity Trail of business, Vigilant can help in making an introduction to a “friendly” Broker Dealer that can help keep that trail.

Frequently Asked Questions

Click on a question below to view answers to questions Vigilant frequently receives.

What are the benefits of going independent as an RIA?

Going independent as an RIA typically provides greater control over your business, client experience, technology, branding, and long-term growth strategy. It also gives Firms the flexibility to build an operating model that aligns with their unique vision and objectives.

If you are contemplating going independent, view our guide here on where to start: Breakaway Advisor Compliance: Where to Start

Can Vigilant help me in setting up other service provider relationships?

Vigilant can help you identify and coordinate relationships with key Third-Party Service Providers, including Custodians, Technology Providers, Broker Dealers (for those that have an Annuity Trail they want to keep), Legal Counsel, and other Vendors.

How can Outsourced Compliance services support a breakaway advisor?

Outsourced Compliance allows Breakaway Advisers to focus on building and growing their business while experienced professionals help establish and maintain their compliance program. Vigilant can help with SEC Registration and On-Going Compliance Services (Outsourced CCO and CCO Support Services).

To learn more about how to leverage and utilize Outsourced Compliance, see our Vigilant Insights release here: How to Best Leverage and Utilize Outsourced Compliance

What are important considerations prior to breaking away?

Before breaking away, Advisers should carefully evaluate their business plan, regulatory obligations, technology, service providers, client transition strategy, and operational infrastructure. Planning these elements in advance can help support a smoother transition to independence.

How do my compliance obligations differ when being an RIA?

As an independent RIA, you become responsible for establishing and maintaining your Firm’s compliance program, including policies and procedures, regulatory filings, books and records, employee oversight, and on-going compliance monitoring. The specific obligations depend on your Firm’s business activities and regulatory status. All of which, on the compliance side, Vigilant can help your Firm with.

Schedule a Call with Vigilant

Ready to discuss the key considerations before going independent? Contact Vigilant today to speak with a Compliance Professional and learn how we can guide you through the process, ensuring a smooth and informed transition.

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