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How exactly I started a specialized RIA for under $10,000

Andrew McFadden started Panoramic Financial Advice out of his Fresno, Calif. home and cut costs to the bone -- except where only retail would do -- and isn't afraid to send micro-accounts to a competitor

Tuesday, March 17, 2015 – 6:49 PM by Guest Columnist Andrew McFadden
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Andrew McFadden: As a startup, it is very difficult to limit yourself to working with a specific clientele. Nevertheless, I decided to go by the book and specialize.

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Mentioned in this article:

MoneyGuidePro
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Top Executive: Bob Curtis

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Robert J. Martorana, CFA

Robert J. Martorana, CFA

March 18, 2015 — 1:17 AM

Andrew,
This is one of the most practical articles I’ve ever read about launching and running an RIA. It is refreshing to hear how you did so much with so little. And I noticed you didn’t skimp when it came to photos, website, and compliance.
Thanks for sharing your experience,
Rob

Mister RIA

Mister RIA

March 19, 2015 — 6:05 PM

I’d like to hear the author’s thoughts on who should start their own RIA and who should not reinvent the wheel and plug into an existing RIA. I own mine, but I started it back in the beginning of the RIA business model and competition was easy… plus there really were very few firms to work in.

Today it is different and, as one who wasted much time as chief cook and bottle washer, I wonder how many people are sub optimizing their career by starting their own RIA. Would you start another kind of company with little or no experience?

John Rourke

John Rourke

March 20, 2015 — 1:23 PM

“The best CRM specifically built for financial advisors I found was New York-based Wealthbox. But there were still some limitations in my opinion.”

Hi Andrew: Thanks for that compliment about Wealthbox as “best CRM” and attendant feedback. It’s been fully 8 months since you tried Wealthbox and we launched this CRM app just 13 months ago. Since then we’ve added integrations like MailChimp, Google, and MoneyGuidePro, among other integrations, and we’ve got lots more on the way. Hope you check us out again, and congrats on your launch of Panoramic. #Impressive.

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Ahmad Sizemore

Ahmad Sizemore

November 22, 2015 — 10:08 PM

Thoughtful discussion . I was enlightened by the facts . Does anyone know if my company would be able to grab a fillable CA Form 275-321 document to fill in ?

maynard grier

maynard grier

October 22, 2016 — 5:48 AM
Thought-provoking writing . I am thankful for the details ! Does someone know if I might be able to get access to a fillable NY DS-875 copy to fill out ?

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