Fidelity's business acceptance committee denied a financial advisor's request to establish their new RIA on its platform after a multi-month evaluation process.

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    "post_id": "1wd2aca",
    "summary": "Fidelity's business acceptance committee denied a financial advisor's request to establish their new RIA on its platform after a multi-month evaluation process.",
    "category": "access_denied",
    "comments": [
      {
        "url": "https://www.reddit.com/r/CFP/comments/1wd2aca/comment/p92lkov/",
        "depth": 0,
        "score": 22,
        "author": "One_Establishment631",
        "excerpt": "Sheesh. Haven't heard this. What's the AUM and fee structure?",
        "posted_at": "2026-09-11T01:40:11.000Z",
        "author_url": "https://www.reddit.com/user/One_Establishment631/"
      },
      {
        "url": "https://www.reddit.com/r/CFP/comments/1wd2aca/comment/p92wn1c/",
        "depth": 0,
        "score": 17,
        "author": "Taako_Cross",
        "excerpt": "I’m betting they looked at the underlying funds and trading history and they decided you weren’t going to generate enough revenue from them.\n\n We added Fidelity back in 2019 as another custodian and at that point I believe they had a 50 million minimum which we easily met. However during the beginning of COVID when rates dropped they approached us about not using enough of their more expensive act",
        "posted_at": "2026-09-11T02:39:33.000Z",
        "author_url": "https://www.reddit.com/user/Taako_Cross/"
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      {
        "url": "https://www.reddit.com/r/CFP/comments/1wd2aca/comment/p936jlh/",
        "depth": 0,
        "score": 13,
        "author": "Winston206",
        "excerpt": "If you need to move off Fidelity, I would recommend Schwab & Altruist. IMO Altruist is hands down the best UX, but they don't offer the flexibility and integrations that Schwab & fidelity do",
        "posted_at": "2026-09-11T03:35:50.000Z",
        "author_url": "https://www.reddit.com/user/Winston206/"
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        "url": "https://www.reddit.com/r/CFP/comments/1wd2aca/comment/p92rbr2/",
        "depth": 0,
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        "author": "phc18",
        "excerpt": "Wow, go get an offer from Schwab. Once you have it in hand see if they will talk.",
        "posted_at": "2026-09-11T02:10:50.000Z",
        "author_url": "https://www.reddit.com/user/phc18/"
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        "url": "https://www.reddit.com/r/CFP/comments/1wd2aca/comment/p92rvpv/",
        "depth": 0,
        "score": 4,
        "author": "One_Establishment631",
        "excerpt": "Also tell the current employer to fuxk off with delaying and holding you back.",
        "posted_at": "2026-09-11T02:13:45.000Z",
        "author_url": "https://www.reddit.com/user/One_Establishment631/"
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        "url": "https://www.reddit.com/r/CFP/comments/1wd2aca/comment/p92mm1t/",
        "depth": 0,
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        "author": "ConsiderationMain875",
        "excerpt": "How is your compliance record?",
        "posted_at": "2026-09-11T01:45:39.000Z",
        "author_url": "https://www.reddit.com/user/ConsiderationMain875/"
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        "url": "https://www.reddit.com/r/CFP/comments/1wd2aca/comment/p93m59s/",
        "depth": 0,
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        "author": "Mother-Upstairs330",
        "excerpt": "LPL probably would like to talk to you...",
        "posted_at": "2026-09-11T05:24:24.000Z",
        "author_url": "https://www.reddit.com/user/Mother-Upstairs330/"
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        "url": "https://www.reddit.com/r/CFP/comments/1wd2aca/comment/p92lcn9/",
        "depth": 0,
        "score": 2,
        "author": "CFP25",
        "excerpt": "Well what reason did they give you?\nAnd your AUM? Fidelity has minimums.\nAnd you said 6 months… but was that all Fidelity? It seemed like their part took 6-8 weeks. So how did Fidelity extend this to 6 months?",
        "posted_at": "2026-09-11T01:39:02.000Z",
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    "evidence": [
      "[post] I was informed today that the business acceptance committee is denying my request to stay with Fidelity.",
      "[post] 6 months down the drain and Fidelity can’t give me a reason why."
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    "virality": "high",
    "post_date": "2026-09-11T01:33:20.000Z",
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    "post_text": "Currently in the process with establishing my own RIA and wondering if anyone else has experienced what I’m going through currently with Fidelity.\n\nMy current RIA is with Fidelity and because they have rules of engagement I had to get permission from my current RIA to engage with Fidelity and obtain a pricing module.\n\nThe owner of my firm stalled and delayed and finally allowed me to engage. Fidelity then needed 6-8 weeks to review my accounts, AUM, and other items before presenting me with a pricing module.\n\nI finally received a pricing module from Fidelity and all was well. I was told that the next step was to get approval from their business acceptance committee.\n\nI was informed today that the business acceptance committee is denying my request to stay with Fidelity.\n\n6 months down the drain and Fidelity can’t give me a reason why.\n\nAnyone else go through something similar to my experience?",
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