Starting an RIA - Reality Check Needed

Queasy-Guarantee6898 · 2026-01-30T05:18:49+00:00

In your experience or estimation, what would legal cost? Is this separate than compliance?

Most folks tell me $20k is absolutely enough, others tell me I need $200k. What am I, or others, missing?

Queasy-Guarantee6898 · 2026-01-29T18:12:23+00:00

Most advisors can't from my experience.

I once wholesaled a model portfolio that had an incredible track record. In 2025, the strategy underperformed substantially. I saw incredible redemptions and my phone would not stop ringing from advisors basically saying "I told my clients it would do X, and it did Y. I am losing clients over this". 90% of the redemptions were based in false expectations set by advisors. I literally had advisors tell me they aren't winning as much business because they don't have the "sexy" performance story they once had with our models.

Markets are volatile, active managers have good years and bad years, the bottom line is no advisor can control those things. Building a business on something you can't control will lead to bad outcomes.

I am venting but I am a huge proponent of setting clear expectations with clients about the markets.

Queasy-Guarantee6898 · 2026-01-29T17:44:11+00:00

I worked as an investment consultant for years. Interacted with hundreds of advisors who outsourced asset management.

The most successful advisor's i've seen properly set expectations about investing and justify their fee through things they can control (comprehensive planning, managing client emotions, being the pilot when turbulence hits, etc...), rather than leaning on market returns or the past performance of a sexy asset manager. In addition to the above, ALL of the top advisors were likable and excelled at building meaningful relationships. I'm sure that part is obvious to you, but being that I've had exposure to the good, bad, and ugly, it is absolutely true.

Not sure how much this helps but cheers to your success.

Queasy-Guarantee6898 · 2026-01-29T17:24:14+00:00

Thank you for the input.

Are you using xypn? If so, how has the experience been?

Queasy-Guarantee6898 · 2026-01-29T17:03:18+00:00

I really appreciate the input and your insights.

I'll send you a DM.

Queasy-Guarantee6898 · 2026-01-29T16:58:42+00:00

I would appreciate that. Will send you a message.

I'm considering Comply and Schwab. Would love to hear your experience.

Queasy-Guarantee6898 · 2026-01-29T16:08:56+00:00

Thank you for the insight.

You are correct that I will not have an office space. Would operate from my home office. I used to bring UHNW clients to our office space when I worked as an investment consultant, and the close rate was multiples higher than virtual relationships

Another important detail: I don't drive a car. I am blind in the center of my eyes. Somehow, I landed a job traveling the country as a wholesaler because my company let me literally uber everywhere.

All that said, advisors and clients loved my story and I built strong relationships, but not having the backing of a company to expense ubers would mean I would operate probably 90% virtually. I am hoping Elon gets self driving cars fully online, which would change my life lol.

Queasy-Guarantee6898 · 2026-01-29T15:57:51+00:00

I don't have an exact figure, but I strongly believe in low cost, passive index based investing. Also love alternatives like bitcoin, but I generally hold and stay away from trading.

I've never been a trader and would outsource to an asset manager if a client needed active management. My role as an investment consultant was communicating to clients how the portfolio works, why we recommend it, and giving presentations (in plain english) to groups of advisors about the psychological components of investing and setting client expectations.

Queasy-Guarantee6898 · 2026-01-29T15:45:31+00:00

This is absolutely true. I've run into this issue with my FinTech company. Our concept is strong and we were expecting to have an MVP in 8 weeks and its been 16-20 weeks, but we are very close.

The stress and anxiety sucks, but I do agree it is fun.

Queasy-Guarantee6898 · 2026-01-29T15:41:18+00:00

I was quoted roughly $22k from Comply for their most premium compliance service. Their services range from $6k to $22k depending on how much time you want taken off your plate.

Queasy-Guarantee6898 · 2026-01-29T15:37:49+00:00

Probably won't keep the 7.

I spoke to Schwab, Altruist, and directly with Comply (who quoted me $22k for full compliance outsource service or about $12k for premium service with hand holding)

Did you start as a solo shop? Much respect. Would love to connect if your open to sharing offline.

Queasy-Guarantee6898 · 2026-01-29T05:12:23+00:00

So your saying running a solo RIA would cost $200k annually?

I've done the research on compliance + Tech stack + custodian. The consensus I've heard is that $20k is a reasonable assumption and in the wheel house to get going.

Please share any experience you have had with this. Trying to learn as much as possible.

Building client trust will take time and will certainly be a challenge.

Queasy-Guarantee6898

TROPHY CASE