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Complimentary Whitepaper
Avoid These 5 Mistakes: The Professional’s Guide to Building a Scalable RIA Firm
Panoramix™ Industry Content Series
Welcome to the fourth in a series of industry content from Panoramix designed to help advisors succeed in a more challenging operating environment.
Unfortunately, setting up a new RIA firm has many pitfalls and traps that advisors can fall into as this is a new area where they may not have all of the information they should and it truly has been a DIY (do it yourself) endeavor.
To help advisors in their RIA set ups, we have identified the top 5 areas that advisors need to make savvy, smart decisions to avoid making mistakes and costing themselves time and money.
When setting up a new RIA business, there are a lot of decisions to make and it can be overwhelming. Sometimes you might not know the ramifications of some of those decisions until months later. As technologists and RIA business analysts, we have worked with a lot of advisors just starting out or breaking away, and we have compiled a list of the top 5 things that advisors must manage when starting out.
| About Panoramix™ |
Developed in 2013 by Sapphire Software Services, Inc., Panoramix provides portfolio management and reporting software for RIAs and financial advisors. Specializing in billing and performance reporting, the Panoramix platform is multi-custodial and, with its wide array of partners and integrations, is flexible enough to integrate seamlessly into an existing tech stack, while still being robust enough to stand on its own. Panoramix is industry-recognized as a Kitces’ Best Value (2023) and a top performer on the T3 Inside Information Survey eight years running (2019–2026). For more, see www.panoramixfinancial.com.
