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Foreside unveils solution for breakaway RIAs

January 21, 2021

breakaway broker

Foreside unveils solution for breakaway RIAs

Comprehensive platform helps mitigate liabilities and risk for successful transition

PORTLAND, Maine — January 21, 2021 — Foreside Financial Group, LLC (“Foreside”), a provider of governance, risk management, and compliance service and technology offerings to clients in the global asset and wealth management industry, today introduced a comprehensive solution for individuals and groups who are seeking to “break away” from their current affiliations and establish their own investment advisory firm.

Foreside’s Breakaway Broker Platform is a complete solution designed to make the transition from broker to independent investment advisor straightforward and efficient. The service combines independent professional legal services for entity formation, contract drafting, and review of existing employment arrangements with expert registration and compliance services to provide a complete registration experience.

“Breakaway broker registrations present unique challenges for advisors,” said David Whitaker, President of Foreside. “The process is often complicated by existing employment contracts, privacy and legal issues surrounding communicating with clients, and other issues related to the broker protocol.  Foreside’s Breakaway Broker Platform addresses all concerns, providing a robust legal and compliance solution for those seeking the freedom of running an independent investment advisor.”

The platform also helps breakaway individuals and groups mitigate any potential regulatory intervention, lawsuits, and damaged reputations by providing diligent advanced planning that is critical for a successful transition.

Foreside’s industry-leading consulting programs and professional and technology solutions complement this program by helping firms advance their strategic vision while remaining on the frontier of regulatory operational excellence. Foreside’s Breakaway Broker Platform incorporates a dedicated team of compliance professionals as well as state of the art technology and is enhanced by a suite of  professional and technology services such as business insurance, cybersecurity and code of ethics solutions, best execution technology, and much more.

Foreside’s Breakaway Broker Platform helps those seeking independence establish their new advisory business while providing ongoing professional compliance and technological support. This enables firms to focus on their core business while remaining confident when it comes to compliance.


About Foreside Financial Group

Foreside delivers comprehensive advice and best-in-class technology solutions to clients in the global asset and wealth management industries. Foreside distributes more than $1 trillion* of product through their 17 limited purpose broker-dealers. For 15 years, Foreside’s suite of services and platform-based model have helped automate and simplify compliance and marketing for clients. Foreside works with pooled investment products, investment advisors, broker-dealers, global asset managers and other financial institutions.

By harnessing state-of-the-art technology, Foreside helps firms address and shape today’s regulatory environment, drive operational efficiency and growth, and focus on value-adding work. Foreside is headquartered in Portland, Maine, with numerous regional offices, including New York and Boston. For more information on Foreside’s suite of services, please visit

*as of 1/1/2021