Together, they explore practical decision points advisors should consider:
• The real implications of the $100M AUM threshold and the trade-offs between state and SEC registration
• When it may make sense to stay with an independent broker-dealer - especially if more than 20% of your revenue is still commission-based
• Why some RIAs are now “breaking away again” and rolling into larger platforms or supported-independence models
• The emotional and operational realities of dropping a Series 7, and how that can change your flexibility with media, branding, and marketing
Chuck also opens up about Sovereign’s “three doors” approach - including “Sovereign as a Service” - and how advisors can use incubation-style models to learn the RIA world before fully standing up their own firm. Frank underscores a central theme: there’s no universally “right” answer, only informed vs. uninformed decisions.
Resources:
Chuck’s LinkedIn: www.linkedin.com/in/charlesfailla
Chuck’s Websites: www.sovereignadvisorsolutions.com | www.goria.com
Elite Consulting Partners | Financial Advisor Transitions: https://eliteconsultingpartners.com
Elite Marketing Concepts | Marketing Services for Financial Advisors: https://elitemarketingconcepts.com
Elite Advisor Successions | Advisor Mergers and Acquisitions: https://eliteadvisorsuccessions.com
JEDI Database Solutions | Data Intelligence for Advisors: https://jedidatabasesolutions.com
Listen to more Advisor Talk episodes: https://eliteconsultingpartners.com/podcasts/
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