Ria

: Implement a Client Relationship Management (CRM) system (e.g., Wealthbox or Redtail ) and financial planning tools (e.g., RightCapital ).

: Required for firms with over $100 million in AUM.

: Confirm you meet licensing requirements. While the Series 65 is standard, professional designations like the CFP or CFA may offer exemptions depending on state regulations. 2. Legal and Regulatory Setup This phase transforms your idea into a regulated entity. : Implement a Client Relationship Management (CRM) system (e

: Prepare account transfer paperwork and over-communicate with clients to explain how their assets will be protected at the new custodian.

Before filing any legal paperwork, you must define the core identity of your practice. While the Series 65 is standard, professional designations

: Generally for firms managing under $100 million in client assets.

: As a fiduciary, you must appoint a Chief Compliance Officer (often yourself in a solo firm) and maintain a written compliance manual and code of ethics. 4. Transitioning and Launching : As a fiduciary

: Select a brokerage firm like Schwab Advisor Services or Fidelity Institutional to hold client assets and execute trades.