It’s no small task to build a firm from scratch. And while there are some breakaway advisors willing to go it alone, others aren’t even aware of where to start.
In this episode, Mindy is joined by Matt Sonnen of PFI Advisors, who helped build the infrastructure for the breakaway launch of Luminous Capital, and today has a career helping lead billion-dollar teams to independence.
Because Matt has been on both sides of a breakaway, he can paint a realistic picture of what it REALLY takes to build an RIA firm—whether you go it alone, work with a service provider or hire a consultant. He answers those questions we’re most frequently asked, including:
Related: Harnessing RIA M&A Strategies for Growth
They will also discuss what to expect from life after the launch and address a common concern about the bottom line. That is, how long does it typically take for a breakaway to become cash-flow positive?