Making a successful RIA move with as many of your client assets as possible…even annuities
Writing for ThinkAdvisor, RetireOne Managing Director Kevin Hissong and Lotay Yang of Black Card Circle RIA in California address some hurdles advisors may face as they transition all of their client assets to a fee-based practice structure from a brokerage practice. Annuities, in particular, have been difficult to move in the past. But, as Lotay and Kevin point out, times have changed, and advisors may no longer need to accept that up to one fifth of their client assets may not make the move with them.
In many cases, even if former broker-dealer registered reps drop insurance licenses and FINRA registrations those assets don’t have to be left behind. By working with an insurance + annuity platform like RetireOne, advisors going indie may bring annuity assets with them as:
- Advisor of record changes, and/or
- 1035 exchanges (when and where appropriate)
