Can I use my brand for my practice?
You have the option of utilizing Dynamic Wealth Advisors or your name.
Is E & O insurance available?
DWA has E & O insurance for Investment Advisor Representatives and the firm. An ERISA bond is also available for advisors working with retirement plan sponsors.
Do I have to use a certain custodian?
You have the choice of Charles Schwab, Fidelity and/or TD Ameritrade. Many advisors use two or more custodians. We encourage you to explore the differences and options with our Advisor Support Team.
What types of advisors and practices are a good match for DWA?
DWA works with asset managers, wealth managers, financial planners and asset gatherers. Many advisors are solo practitioners, but we also service teams of advisors and RIA firms. We have discovered the most successful relationships we have are with advisors who value an open, direct relationship and are seeking to outsource back office administration, and some or all of their investment management needs so they can focus on servicing and planning for their existing and prospective clients, and enjoying their life.
Is DWA a broker-dealer?
No. DWA services fee based advisors only. However, we have access to consulting and commission acquisition arrangements that may be a suitable alternative to trail commissions on securities business. Also, there are many very viable fee based alternatives to the traditional securities products, including mutual funds, variable annuities, fixed index annuities, real estate investment trusts and many more.
Can I place my securities licenses with DWA?
As an investment advisor representative, most states require registration through an RIA. A series 65 or 66 is usually required. Other securities licenses (i.e., S6, S7) are not required for IAR registration and therefore are not necessary to maintain as a fee based advisor.
Can I work with DWA if some of my business is commission based?
DWA can help you put together a plan to transition to fee based from a hybrid fee/commission model. It’s is our experience that advisors with 30% or less of their revenues from commissions find the transition to fee only to be a productive and liberating experience.
Is DWA able to help me grow my practice?
DWA works with both IARs and RIAs to produce better results for their practices. DWA partners with advisors to discover their goals and objectives and create a practice plan for success. We provide a comprehensive platform designed to create efficiency and enhance productivity. DWA also offers on-going practice support, both in groups and with individual advisors. Simply stated, DWA takes care of the details and offers solutions that enable you to focus on servicing your clients and growing your practice.
Do I maintain ownership of my practice and client relationships?
Absolutely. You continue as owner of the practice you have built. Should you decide to become an RIA, you have the option of continuing DWA’s services under an RIA Service Agreement.
How soon can I begin the on-boarding process?
Our first step is to understand your practice goals and objectives and work with you to develop an on-boarding plan, tailored to your practice. Once the required background checks are completed and you have executed the affiliation documents, we begin to plan and implement your plan. Usually, these steps require 1-2 weeks depending upon the size of the practice. The account transition can be completed in 2-4 weeks.
Does DWA offer a succession plan?
DWA works with advisors who are seeking relationships to grow their practices. We can arrange for, and help advisors to develop a succession (or contingent succession) plan relationship to protect the future of their practices.