Together, they explore practical decision points advisors should consider:

• The real implications of the $100M AUM threshold and the trade-offs between state and SEC registration

• When it may make sense to stay with an independent broker-dealer - especially if more than 20% of your revenue is still commission-based

• Why some RIAs are now “breaking away again” and rolling into larger platforms or supported-independence models

• The emotional and operational realities of dropping a Series 7, and how that can change your flexibility with media, branding, and marketing

Chuck also opens up about Sovereign’s “three doors” approach - including “Sovereign as a Service” - and how advisors can use incubation-style models to learn the RIA world before fully standing up their own firm. Frank underscores a central theme: there’s no universally “right” answer, only informed vs. uninformed decisions.

Resources:

Chuck’s LinkedIn: www.linkedin.com/in/charlesfailla

Chuck’s Websites: www.sovereignadvisorsolutions.com | www.goria.com

Elite Consulting Partners | Financial Advisor Transitions: https://eliteconsultingpartners.com

Elite Marketing Concepts | Marketing Services for Financial Advisors: https://elitemarketingconcepts.com

Elite Advisor Successions | Advisor Mergers and Acquisitions: https://eliteadvisorsuccessions.com

JEDI Database Solutions | Data Intelligence for Advisors: https://jedidatabasesolutions.com

Listen to more Advisor Talk episodes: https://eliteconsultingpartners.com/podcasts/

Follow us on LinkedIn: https://linkedin.com/company/eliteconsultingpartners