how-to
How to Move Clients to a New RIA
Table of Contents
- Understanding the Regulatory Framework for Moving Clients to a New RIA
- How to Explain an RIA Transition to Clients
- RIA Transition Timeline: What to Expect
- Client Account Transfer Paperwork for RIA Moves
- RIA Client Transition Checklist
- Minimizing Client Attrition During Your Move
- Planning Your Client Transition Strategy
- Frequently Asked Questions
Last Updated: October 25, 2026
Understanding the Regulatory Framework for Moving Clients to a New RIA
When you move clients to a new RIA, the transition involves regulatory and firm-specific considerations. Understanding the applicable requirements can help you plan the move.
The transition involves coordinating account transfers, client authorizations, and paperwork among the parties involved.
Start by reviewing SEC guidance on advisor transitions. The SEC requires advisors to act in clients' best interests during firm changes. That means full disclosure of why you're moving, what changes clients should expect, and how their assets will be protected. Many advisors skip this step or rush through it. That's where problems begin.
Your current firm's departure requirements may depend on its policies and your circumstances. Advisors Changing Firms: Legal Checklist provides a checklist to review before taking action.
The considerations involved can differ depending on the firms and business models involved. Review the applicable requirements before giving notice.
How to Explain an RIA Transition to Clients
Clients may have questions about their accounts and the service they will receive. Frame your explanation around the concerns that matter to them.
Plan how and when to communicate with clients, taking into account any applicable restrictions on client contact.
Clients may have questions about account access, potential effects on their investments or taxes, and service continuity.
Address each concern directly. Transfer timing, account access, tax consequences, and service arrangements can depend on the circumstances of the move.
Describe the new firm's features accurately and avoid making promises you cannot substantiate.
Use this framework when explaining the move to clients:
- Why you're moving (and why it benefits them)
- What happens to their accounts during transfer
- What changes and what stays the same
- Timeline for the complete transition
- Your personal commitment to their relationship
Choose a communication approach that fits your clients and complies with any applicable restrictions.
RIA Transition Timeline: What to Expect
The duration of a move to a new RIA can vary. Planning for the steps involved can help you set expectations and organize your team.
Week 1-2: Planning and notification
Review your current firm's departure procedures and any applicable client-contact restrictions before taking action.
Coordinate with the new RIA about its onboarding process and any documentation it requires.
Week 2-3: Client notification
Plan client communications in accordance with applicable firm policies and restrictions.
Review any applicable restrictions on client communications before contacting clients.
Week 3-4: Documentation and authorization
Confirm what authorization and account-opening documents are required for the transfer, and allow time for clients to complete them.
Confirm with the firms involved how transfer instructions are submitted and how to check on their status.
Week 4-6: Account transfers and reconciliation
Confirm the transfer method and expected timing with the firms involved.
As accounts transfer, review the information provided by the firms involved and address any discrepancies.
Client Account Transfer Paperwork for RIA Moves
The paperwork involved in moving client accounts depends on the firms and circumstances. Confirm the requirements with the firms involved.
The core documents include:
New Account Opening Forms
Transfer Authorization Forms
Investment Advisory Agreement
Review any proposed advisory agreement and its terms with the appropriate professionals.
Custodial Documentation
W-9 Forms
Beneficiary Designation Forms
Allow time for clients to complete and return any required paperwork.
RIA Client Transition Checklist
Use this checklist to organize the steps involved in a client transition.
| Task | Owner | Target Date | Status |
|---|---|---|---|
| Notify current firm of departure | You | Day 1 | |
| Request client list and account numbers | You | Day 1 | |
| Coordinate with new RIA compliance team | You | Day 2-3 | |
| Prepare client communication plan | You | Day 3-5 | |
| Contact top clients (verbal) | You | Day 5-10 | |
| Send written client notification | You | Day 7-10 | |
| Collect client signatures on new account forms | You/Admin | Day 10-20 | |
| Submit transfer authorization forms to old custodian | New RIA | Day 15-20 | |
| Follow up on transfer status weekly | You | Day 20+ | |
| Reconcile transferred accounts | You/Admin | Day 25-40 | |
| Update client records in new system | Admin | Day 30-45 | |
| File Form ADV amendments with SEC (SEC.gov) | New RIA | Day 45 |
You can track the status of each transfer and note any issues that arise.
Minimizing Client Attrition During Your Move
Client decisions during a firm transition can vary. How to Minimize Client Loss When Moving Firms explores the same core challenge with complementary strategies and tactics. Consider how you will communicate with clients and address their questions.
The biggest driver of client retention is proactive communication. Clients who hear about the move from you are far more likely to follow than clients who hear about it from someone else. Start reaching out before your departure becomes public.
Consider how to allocate communication and transition planning across your client base.
Address client questions accurately, and confirm details about fees, services, and account arrangements with the firms involved.
Clients may make different choices about whether to move. Communicate with them professionally.
For clients who move, keep communication open and address questions about the transition as they arise.
Planning Your Client Transition Strategy
Consider your book of business, the new firm's capabilities, and your clients' needs when planning a transition.
Consider how client needs and circumstances may inform your communication plan.
Develop a transition communication plan that accounts for client needs and applicable restrictions.
Review the capabilities of the firms involved and describe them accurately to clients. Recruitment Services describes the transition support services available to help execute the strategy.
Clarify responsibilities and communication plans with the people involved in the transition.
Create a communication calendar. Map out when you'll contact clients, what you'll say, and what materials you'll send. Consistency matters. Clients should hear the same message from you every time, whether that's via email, phone, or in person.
Plan for questions or issues that may arise during a transition.
Moving your clients to a new RIA involves planning and execution. Financial Advisor Placement Services helps experienced financial advisors navigate broker-dealer and RIA options, identify a professional and cultural fit, and negotiate with hiring firms. How to Transition a Financial Practice: 2026 Guide walks you through the process.
Frequently Asked Questions
Can financial advisors take their clients when they move to a new RIA?
Whether and how clients can move depends on the circumstances and applicable requirements. Review your firm's policies and consult appropriate legal and compliance professionals before contacting clients.
How long does it take to move clients to a new RIA?
The time required to move clients to a new RIA can vary depending on the circumstances. Confirm expected timing with the firms involved.
What paperwork do clients need to complete to move to a new RIA?
The documents required can vary depending on the firms and circumstances. Confirm the requirements with the firms involved.
What should I disclose to clients about moving to a new RIA?
Communicate accurately about the move and any changes clients may experience. Confirm details about fees, services, account arrangements, and the transition with the firms involved.
