April 23, 2020
By Jake Martin
Bedminster, New Jersey-based advisor Robert Bacino recently switched to the employee channel of Ameriprise Financial, leaving behind the independent RIA space he had joined more than 15 years ago.
While the Covid-19 pandemic might have accelerated the move, Bacino says he was already leaning toward an exit from the independent channel.
Bacino, who formed his RIA, Insight Financial Advisors, in 2004, said he was in search of better technology and more operations support as his interest in practice management waned.
‘I started to become less excited about the RIA world,’ he said. ‘Running an RIA in this environment is time-consuming and costly.’