Why Go the Registered Investment Advisor Route?

When it comes to finding a financial planner, there are many different types to choose from. Registered Independent Advisors (RIAs) are one of the most popular options and for good reason. RIAs offer a wide range of unique financial services that can benefit investors of all ages and income levels. In this article, we will discuss the benefits of working with a RIA and why they could be the right for potential advisors.

What is a Registered Investment Advisor?

An RIA is a type of financial advisor that is registered with the Securities and Exchange Commission (SEC). RIAs are required to adhere to a fiduciary standard, which means that they must act in their clients’ best interests at all times. This is different from the suitability standard that other financial advisors, such as brokers, are held to. The fiduciary standard is the highest standard of care in the financial industry and it is one of the main reasons why RIAs have become increasingly popular in recent years.

Benefits of working with an RIA

1. One of the main benefits of working with a RIA is that they are required to always act in their client's best interest. This fiduciary duty means that RIAs must always put their clients' interests ahead of their own, which instills a high level of trust between advisor and investor. Additionally, RIAs are held to a high standard of ethics and must adhere to a strict code of conduct.
2. Another benefit of working with a RIA is the comprehensive nature of their services. RIAs offer a wide range of services that can address all aspects of an investor's financial life, from retirement planning to tax strategy.
3. Additionally, RIAs are able to provide objective advice because they are not beholden to any one financial product or company. This allows them to provide unbiased advice to their clients.

When should I not use an RIA?

Sometimes, RIAs are not the right financial advisor for you or your needs. If you are looking for someone to simply manage your investments, an RIA may not be the right fit. Additionally, if you are only interested in a short-term financial plan or you do not have a lot of assets to invest, an RIA may also not be right for you.

Don't let financial jargon get you down

For investors looking for comprehensive, unbiased financial advice, working with an RIA could be the best option as they can provide objective advice on all aspects of an investor's finances, such as retirement planning or tax strategy. Interested in finding a fiduciary advisor that can work with your interests in mind? Find a financial advisor today.

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