PRACTICE MANAGEMENT - SOLICITOR RELATIONSHIPS

Growth and Success are driven by loyal, dependable alliances with like-minded professionals.

What is a solicitor?

  • A solicitor is a person or entity that solicits clients for a Registered Investment Advisor (RIA).
  • A solicitor does not provide investment advice to the client. They market the RIA’s services and refer the client to the RIA for personalized advice.

Who can be a solicitor?

  • Under most states laws, “soliciting” for an investment advisor is deemed to be acting as an Investment Adviser Representative (IAR), and thus must be done by an RIA or IAR only. Some states do not require licensing or registration. Please contact us for specific regulations related to your state.

Why be a solicitor?

  • Being a solicitor allows you to receive an ongoing portion of the investment advisory fee, without:
    • Having to be responsible for the investment advice provided
    • Having to pass a qualifying exam, in some situations 

By being creative thinkers and marketplace innovators, Partnervest is able to provide services like the Registered Solicitor Affiliate Program to our advisors.