According to the announcement, the program, RIA Complete, provides introducing broker-dealer firms with “a broad array of business and practice management solutions to help them develop and enhance their business models to support RIA practices.” Through RIA Complete, Pershing says it works consultatively with its customers to help them identify an appropriate operating model that best supports their business regardless of how they generate income – models that it says range from leveraging a corporate advisory platform to developing their own independent RIA practice.
The program also provides introducing broker-dealers with the option to serve RIAs through Pershing’s affiliate, Pershing Advisor Solutions LLC. RIA Complete will be supported by NetX360, Pershing’s next-generation NetExchange technology platform for investment professionals and RIAs. The announcement says that the new offering will provide Pershing’s customers with a “comprehensive solution to manage their firm’s entire commission- and fee-based business, including their advisory and managed accounts, on a single, integrated platform.”
The announcement notes that Pershing’s customers have access to an array of practice management support, including guidebooks, seminars and self-service tools, as well as a program dedicated to providing them with best practices on how to make a successful transition to a fee-based business.