Why a Silicon Valley Advisor Became an RIA
November 24, 2020 By Jon Henschen, ThinkAdvisor There's a big difference between broker-dealer and RIA expenses, as one advisor with $100 million in assets and UHNW clients discovered. Recently, our firm worked with an advisor whose experience went against many of the narratives that broker-dealers promote. The process was illuminating, and this advisor invited me to share his story. A Silicon valley-based advisor, Palash Islam had a long-standing relationship at a mid-sized BD, which had brought value and relationships he enjoyed. He came to me seeking options when his firm was soon to be merged into a larger one. Early on in our conversation, I was upfront with the suggestion that Palash should establish his own RIA, as he had over $100 million of assets under management and only a small amount of residual trailing...
