Aug 24, 2021
Richard Chen is the Founder and Managing Partner of Richard L. Chen PLLC. Through his law firm, Richard provides practical legal advice to financial advisors, investment managers, and other financial institutions, helping them focus on serving their clients better. Richard completed his undergraduate degree in Government, with honors, at Harvard University and received his Juris Doctor degree from Harvard Law School. Richard is a person with blindness, but his visual disability only fuels his passion for serving others - whether it’s through motivational speaking, mentoring other people with disabilities, or providing free legal counsel to the underserved.
Richard joins me today to discuss why it’s vital for financial advisors to seek legal counsel when starting their own independent financial advisory firm. He explains the different provisions a financial advisor may need to agree with before leaving their current employer and starting their own business. He describes many strategic and legal points a financial advisor will need to consider in succession planning. He also shares his advice on running a small business for the entrepreneurial financial advisor and highlights how his faith and desire to help others have inspired him to achieve great things in life.
“It’s important to get legal counsel when navigating these transitions. Depending on where the financial advisor is coming from, transitions can require some coordination.” - Richard Chen
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About the Model FA Podcast
The Model FA podcast is a show for fiduciary financial advisors. In each episode, our host David DeCelle sits down with industry experts, strategic thinkers, and advisors to explore what it takes to build a successful practice — and have an abundant life in the process. We believe in continuous learning, tactical advice, and strategies that work — no “gotchas” or BS. Join us to hear stories from successful financial advisors, get actionable ideas from experts, and re-discover your drive to build the practice of your dreams.
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