Ep 81: Is Going RIA the Right Move for You?

Episode 81: Is Going RIA the Right Move for You?

Guest: Shelby Nicholl

Overview

Welcome to the Financial Advisors Want to Know Podcast! I’m Catherine Tindall, CPA with Dominion Enterprise Services, where we help financial advisors navigate income tax planning and compliance.

Today’s guest is Shelby Nicholl, a guide for financial advisors exploring independence. As founder of Muriel Consulting, host of the Kick It Open podcast, and creator of the Muriel Network, Shelby specializes in helping advisors break away from captive firms to build practices aligned with their values. Shelby also champions women’s success in wealth management through community and connection.

Key Takeaways

✅ Understand Your Practice’s Needs – Evaluate your functional, financial, and personal goals before deciding if an RIA transition fits your vision for your practice.

✅ Tech Stack and Compliance Matter – Knowing your technology, custodial, and compliance options—and their costs—is key to planning a successful transition without surprises.

✅ When to Make the Move – Practices often find transitioning to RIA smoother when they’ve reached $100M+ in AUM, allowing them to register with the SEC and streamline setup.

✅ Engage Your Team Early – Involving your team from the start helps manage uncertainty and ensures a smoother transition, boosting retention and morale.

✅ Acknowledge the Emotional Side – Transitioning from a broker-dealer model can bring emotional challenges. Recognizing these feelings can help you move forward confidently.

Connect with Shelby Nicholl

🌐 Muriel Consulting
🔗 LinkedIn

Connect with Catherine Tindall

🔗 LinkedIn
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📧 Email: admin@dominiones.com
🌐 Dominion Enterprise Services

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