How a COO Can Benefit a Growing RIA

Summary: Independent RIAs can derive benefits they may not have realized by leveraging a chief operating officer to manage day-to-day responsibilities. So says the sixth in a series of industry reports from PFI Advisors, a firm that works with billion-dollar breakaway teams to establish their own RIAs. The report says that although RIAs generally regard COOs as cost centers and not revenue generators, leaving the management of ordinary activities to COOs frees up RIAs to focus on business development and client service.