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RIA Operators

Public • 804 • Free

11 contributions to RIA Operators
New to Redtail
I'm new to the RIA world and Redtail. Any pointers on best steps to follow to go from basic to complex is greatly appreciated. We use Redtail. We are a small RIA looking to grow rapidly and provide top notch client service/experience. Thank you! Marjorie
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New comment 16d ago
3 likes • 22d
As a new advisor you will need to keep books and records in order and there is a lot to keep up with. Leverage Redtail by creating a contact record for the firm's compliance notes. Make basic note templates to gather important data points the SEC will ask you. The SEC loves logs :) Log your marketing approvals, Log checks received and forwarded, log trade errors and terminations. Follow the guidance of your manual on what details you need to maintain. You can run a report of the notes and filter for the information you need. I recommend referencing the file location on the marketing - I'm not in support of keeping the actual file in Redtail unless it's for convenience with a final copy stored in your primary files.
Redtail Broadcast Email Troubles
I have a number of teams that use broadcast emails as a method of delivering the communications to clients annually - is anyone else having issues with sending broadcast emails since the new role out? We have a ticket open for several days but no response. -- Thanks
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New comment Sep 19
0 likes • Sep 18
We were able to use this for our ADV offer but we still get frustrated with the inconsistencies - I don't have an update either.
What E&O broker do you use?
Golsan Scruggs, Box Professional, Ryan Insurance Strategy Consultants... And carrier? Travelers, Markel, Hartford, Chubb?
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New comment Sep 19
1 like • Sep 18
Cameron Norris at Golsan Scruggs is really awesome! He really can give advisors a fantastic education on what they need and why they would need it.
CSA ratios to AUM in Servicing Clients
Does anyone know the ratio of AUM to CSA? Prior to our CSA who left she was servicing $75,139,717.65. She felt overwhelmed. I was servicing $599,877,556.77 while also being on the management. Broker Dealer Ratio is 2.0MM in revenue to FA/CSA. Thank you.
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New comment 3d ago
3 likes • Aug 22
Personally, AUM as the sole factor in determining the ratio doesn't work. It depends on the clients that the adviser tends to focus on. I have worked for advisers that had 500+ million in AUM with ease and others with 100 million and constantly buried. Average age of clients, adviser's product choices, service level expectations play a bigger factor. Simple account opening vs. complex account opening, tech savvy clients vs. those that aren't, equity models vs private equity or insurance are a few examples that should be considered as part of the equation for success.
Task lists by position
Anyone have task lists by position, like CSA, paraplanner, Advisor, etc? I'm building one out by position, role within position, EOS category (Leadership, Marketing, Sales, Operations, Finance), etc. Thought it would be helpful to hear what others have done.
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New comment Sep 24
1 like • Aug 22
The compliance manual is a good resource. The CSA role as an example, especially in a smaller firm will touch client contracts, document delivery, anti-money laundering/Identity theft programs, complaints, custody, correspondence, DOL, suitability, mutual fund share classes, trade Error, money movement, privacy, seniors, billing, client files, etc. While they do not exclusively have every task associated with meeting the requirement, they are already part of these processes' day to day. Break the manual down by role and build the tasks from there to start.
1-10 of 11
Merissa Davis
2
4points to level up
@merissa-davis-8191
I love helping advisor teams build their legacy. I'm not the consultant that tells you "what to do" - I focus making the "how to do" efficient.

Active 16d ago
Joined Jan 11, 2023
Jacksonville Beach, FL
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