Hello AF,
I’m thinking of opening an RIA. I’ve thought of how to handle everything to run one except where to obtain my asset allocation research.
I would like to get my hands on JPMorgan or Morgan Stanley strategic and tactical allocations, but do they sell that research to RIAs? If not, is it typical to outsource that? I don’t want to use either as my broker.
Morgan Stanley publishes theirs. Google “Morgan Stanley GIC report.” It’s free.
The first thing you’ll have to do when you open shop is decide which custodian(s) you want to work for. Whoever you choose will have asset allocation tools you can use right away (for free). Once you start doing some business, work with the wholesalers at JPMorgan and BlackRock. They have the best asset allocation tools available. It’s considered “value-add” so it’s free. Of course, in return they expect you to use their funds or they’ll stop coming to see you.
If you’re really lazy and don’t want to do it at all, you can outsource it to Envestnet or another TAMP. I think BlackRock will do it too but you may need significant AUM first…not sure about that one.
Thanks Sweep.
Why do you think that JPM and BR have the best allocation tools? Is it the intellectual property or the exposure they have to each asset class market?