Your business runs across a broker-dealer and an RIA. Your data shouldn't be split between them.

OSJs (Office of Supervisory Jurisdiction) and hybrid RIAs operate in one of the most data-fragmented environments in financial services. Advisors hold business on both a broker-dealer platform (commission-based, supervised) and an independent RIA (fee-based, fiduciary). Each channel has its own custodian relationships, compliance systems, reporting tools, and data feeds. The result is that the OSJ or hybrid firm's leadership has no single view of total production, total AUM, advisor performance, or client relationships across both sides of the business — unless they build it manually in spreadsheets.

The Hybrid Data Challenge

BD Side: Data You Can See But Don't Own

On the broker-dealer side, data lives in the BD's systems — whether that's LPL, Raymond James, Cetera, Ameritas, or another firm. The OSJ receives reports, but doesn't own the underlying data. Production numbers, account information, and compliance records are available only through the BD's reporting interfaces. Exporting and reconciling that data with anything else is a manual process.

RIA Side: Data in Multiple Custodians and Systems

On the RIA side, data lives in custodians — Schwab, Fidelity, Pershing — and in whatever portfolio management and CRM systems the firm has chosen. Each custodian has its own data format, reporting cadence, and feed structure. If advisors have accounts at two or three custodians on the RIA side, that data is already fragmented before adding the BD channel.

The Advisor-Level Visibility Gap

An advisor with $200M in total production may show $120M on the BD side and $80M on the RIA side. No single system shows both. For the OSJ or hybrid RIA's leadership team, building a complete picture of any individual advisor's book requires manually pulling data from at least two systems and combining it — a process that takes hours and produces numbers that are already out of date.

The downstream consequences of this fragmentation affect every part of the business:

• Recruiting and retention — it's impossible to evaluate advisor books holistically without manually combining data from both channels

• Compliance — two regulatory frameworks, two sets of supervision requirements, two audit trails that don't connect to each other

• Growth planning — which advisors should move more business to the RIA? Which clients are better served fee-based? You can't answer those questions without unified data

• Compensation — split grids, overrides, and production credits across two channels mean reconciliation is a recurring manual project

What Unified Visibility Enables

When BD and RIA data are unified in a single platform, the operational picture changes fundamentally. Decisions that previously required spreadsheet assembly become instant queries. Analysis that once took days happens in minutes.

01

Total Production View

See every advisor's full book: BD commission revenue + RIA fee revenue + total AUM in one dashboard. No spreadsheet assembly required.

02

Advisor Recruiting Intelligence

Evaluate prospective advisors' books with full production data. Show recruits what your platform offers with data-backed presentations.

03

Channel Migration Analysis

Identify which client accounts would generate more revenue or better serve clients on the RIA side vs. the BD side. Data-driven transition planning.

04

Unified Compliance Oversight

Supervision data from both channels in one view. See which advisors are compliant across both regulatory frameworks without switching systems.

05

Compensation Reconciliation

Override structures, grid payouts, and production credits across both channels — calculated from unified data rather than reconciled from two separate reports.

06

Growth Analytics

Which offices are growing? Which advisors are net positive? Where is AUM flowing between channels? Strategic questions require strategic data.

How Milemarker Works for OSJs and Hybrid RIAs

Connecting Both Sides

Milemarker connects to both channels: broker-dealer data feeds where available, and RIA custodian data via direct integrations with Schwab, Fidelity, Pershing, and others. CRM data from Salesforce, Redtail, and Wealthbox joins to financial data from both channels in the same warehouse.

Unified Advisor Identity

Advisor identity is unified — one advisor record with production data from both the BD and RIA sides attached to it. Reporting at the advisor level, office level, and firm level reflects the complete picture, with channel breakdowns available at every level.

Your Data in Your Snowflake Warehouse

Data is normalized into your Snowflake warehouse. You own it regardless of your BD relationship or custodian mix. If your BD relationship changes, your historical data stays in your warehouse. If you add a custodian, it connects to the same data model.

AI Across the Full Picture

Milemarker's AI can query across both channels simultaneously. Questions like these become answerable in seconds rather than days:

• "Which advisors have more than 60% of their book on the BD side with clients who would qualify for fee-based?"

• "Show me total production by office across both channels."

• "Which offices are growing their RIA share of production quarter over quarter?"

• "What is my firm's total AUM, broken down by BD and RIA channel, by region?"

Role-Appropriate Views via Milemarker Workflow

Milemarker Workflow can surface relevant data to advisors, office managers, and compliance teams in role-appropriate views — so each person sees the data they need without accessing data they don't.

Before Milemarker

BD reports in one system, RIA reports in another

Advisor books assembled manually

Compensation reconciled in Excel

Compliance reviewed in two separate platforms

Channel migration decisions based on intuition

Recruiting without full production data

With Milemarker

One platform shows both channels

Advisor books unified automatically

Compensation calculated from unified data

Compliance oversight across both frameworks

Channel migration modeled with data

Recruiting with full production intelligence

Built for the OSJ Model

Multi-Office Data Architecture

Milemarker organizes data by office, region, and advisor — with rollup views for OSJ leadership. Production totals, compliance status, and growth metrics are available at every level of the hierarchy, so you can manage the firm strategically without losing office-level detail.

Override and Compensation Modeling

Override structures and compensation grids vary across offices and channels in most OSJ models. Milemarker can consolidate production data across both channels so compensation calculations — overrides, grid payouts, bonuses — are modeled against unified numbers rather than reconciled from two separate reports. The specific compensation logic is configured to match your firm's structures.

Advisor Lifecycle Tracking

From recruiting pipeline through onboarding, production, and retention — advisor lifecycle data is tracked across both the BD and RIA. See where advisors are growing their books, which channel their new production is landing in, and how retention trends by office or region.

BD Relationship Flexibility

Milemarker works regardless of which broker-dealer you're affiliated with — LPL, Raymond James, Cetera, Ameritas, Commonwealth, or others. The data integration approach is adapted to each BD's available data channels. If your BD relationship changes, Milemarker adapts with you. Your data stays in your warehouse either way.

Transition Planning Support

If you're considering moving advisors from the BD to the RIA (or vice versa), Milemarker provides the data foundation to model the impact. Which advisors have books that are predominantly fee-eligible? What would the revenue impact be of moving specific accounts? Those analyses run against real data rather than estimates.

Frequently Asked Questions

Can Milemarker access data from my broker-dealer?

Milemarker can work with broker-dealer data feeds and reports where they are available. The level of access varies by BD — some provide robust data feeds, others provide periodic reports. We evaluate your specific BD relationship during the strategy call.

Does this work with any broker-dealer?

Milemarker is BD-agnostic. We work with firms affiliated with LPL, Raymond James, Cetera, Ameritas, Commonwealth, and others. The data integration approach is adapted to each BD's available data channels.

How does advisor-level reporting work across both channels?

Milemarker creates a unified advisor record that aggregates production, AUM, and client data from both the BD and RIA sides. Reporting can be generated at the advisor level, office level, or firm level — with channel breakdowns available at every level.

Can I use this for advisor recruiting?

Yes. Unified production data allows you to present prospective recruits with a clear picture of your platform's value — and to evaluate their books with full data rather than partial self-reported numbers.

What about compliance — can my compliance team use this?

Milemarker can consolidate compliance-relevant data from both channels. However, Milemarker is a data platform, not a compliance system. It provides the data layer that compliance tools and workflows operate on.

How does compensation reconciliation work?

Milemarker unifies production data across channels. Compensation calculations — grids, overrides, bonuses — can be modeled against that unified data. The specific compensation logic is configured to match your firm's structures.

Is our data separate from other firms on the platform?

Yes. Your data resides in your own Snowflake instance. There is no commingling of data between firms. Milemarker maintains SOC 2 Type II certification.

How long does setup take for an OSJ?

Most OSJs have RIA custodian data flowing within 1-2 weeks. BD data integration depends on the specific broker-dealer's available feeds. Full setup including both channels typically takes 4-8 weeks.

Related guides

Part of the Data Infrastructure series:

• Data Platform for Broker-Dealers: Unified Analytics & Compliance

• Multi-Custodian Reporting for RIAs: Aggregating Data Across Schwab, Fidelity, and Pershing

• What is a Wealth Management Data Platform?

• Advisor Productivity Analytics: Scorecards, Metrics & Benchmarking for RIAs

• Data Platform for RIA Aggregators & Consolidators

• Custodian Data Aggregation: Unified Reporting Across Schwab, Fidelity & Pershing