In this episode of Profit & Practice, host Max Holvik speaks with Brad Wales, founder of Transition to RIA, a consulting firm focused exclusively on helping financial advisors understand whether and how to transition their practice to the RIA model. Max and Brad unpack the biggest misconceptions advisors carry about going independent. Brad breaks down the different pathways and "flavors" of joining an RIA, the two core motivations that drive advisors to make the move, why valuations and tax treatment almost always favor the RIA side at succession, and the single biggest (and most avoidable) mistake advisors make during a transition.

Brad Wales is the founder of Transition to RIA, bringing over 20 years of industry experience, including direct roles in compliance, finance, and business development within the RIA space. He also hosts the Transition to RIA podcast, with more than 150 episodes dedicated to helping advisors navigate the path to independence.

In this episode, we cover:

· The Biggest Misconceptions About Going Independent

· The Pathways into the RIA Model

· What Really Motivates Advisors to Make the Move

· Why RIA Valuations and Tax Treatment Usually Win

· The Most Common (and Costly) Transition Mistake

· How Established RIAs Can Better Attract Breakaway Advisors

· How the Transition Process Has Changed

Connect with Brad

Website: https://transitiontoria.com/

Podcast: Transition To RIA Podcast and Apple Podcast

LinkedIn: https://www.linkedin.com/in/bradford-wales/

Every episode closes with the same question: what's the best piece of financial advice Brad has ever received? Listen to find out.

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Profit & Practice is hosted by Max Holvik, founder of The Advisor's CFO, a fractional CFO practice for wealth management firms.

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