The financial advisory landscape is undergoing significant changes, with small Registered Investment Advisors (RIAs) facing unique challenges when it comes to scaling and competing in an increasingly crowded market.
As discussed in a recent Financial Advisor Magazine article written by Editor -in-Chief Evan Simonoff, who was writing about the FSI’s One Voice conference, small RIAs are grappling with issues such as the need for strategic partnerships, adapting to holistic financial planning trends and finding ways to grow amidst stiff competition.
“Advisors who go independent [often] find there are costs they don’t think about,” said Steve Caruso, a senior analyst at Cerulli who has studied the space.
“Many are looking for partners to help them scale,” said Chris Radford, president of AE Wealth.
“The scaling up of the RIA space is unlocking innovation,” said Michael Lane, head of enterprise at U.S. Wealth Advisory at BlackRock.
“These challenges are precisely the reasons that Katie Burke and I began working together as strategically allied RIA firms and, ultimately, established Equita Financial Network as a way to help other women-led RIAs,” added Bridget Venus Grimes, co-founder of Equita Financial Network.
Equita was born out of a need to fuel business success while empowering other women in the financial services industry. Equita became the first platform solely focused on women-led financial planning firms, designed to encourage women to make the leap into launching their own practice and provide solutions to support them every step of the way. And importantly, Equita is a way for like-minded women to not only share resources and run their business at an affordable cost, but to also share ideas on everything from best practices to help with questions regarding client issues.
To read Bridget and Katie’s story, click here: https://equitafn.com/equita-financial-network-our-team/.
A SOLUTION FOR GROWTH AND INDEPENDENCE
Since it’s creation in 2018, Equita has emerged as a powerful ally for small women-led RIAs, offering a community-driven, resource-rich platform tailored to the specific needs of fee-only financial planning firms.
Key Features of Equita Financial Network:
- Community and Collaboration: Members gain access to a vibrant community to exchange ideas, share best practices, and foster professional growth.
- Comprehensive Resources: The network provides essential tools for financial planning and investment management, helping RIAs streamline operations and focus on client service.
- Independent Branding: Equita allows member firms to maintain their own brand and client relationships, supporting the autonomy that is often crucial to small RIAs.
- Two Membership Levels: Prospective members have the option to join as a full member or just a community member.
Equita Financial Network addresses the core challenges faced by small RIAs. By joining Equita, women-led firms can leverage collective resources and expertise, while maintaining their independence and unique brand identity. This network has been the key to thriving in a competitive financial advisory landscape for full member firms who have joined and fully embrace the tools and resources provided.
Sound interesting?
Let Equita take on the task of paying vendor bills, of sourcing resources, and of making sure compliance, IT, and portfolio management are all taken care of — while you focus on serving clients, growing your business, and providing great financial planning and wealth management expertise.
Start by attending one of the Inspiring Insights webinars. There is a small fee to participate if you are not an Equita member, but you’ll earn CE credits and learn about important topics while also getting a sense of the Equita community. Learn more about upcoming and past webinars here: https://equitafn.com/blog-for-women-advisors/.
