Working with a Registered Investment Advisor (RIA) is desirable for high-net-worth individuals, families, and institutions for the personal, unbiased, and tailored advice to their unique financial situation. They have a fiduciary duty to act in your best interest while providing comprehensive financial services to meet your goals.
What is an RIA?
A Registered Investment Advisor is a firm registered with the Securities and Exchange Commission (SEC) that provides clients with financial advice. A team of advisors will often employ their expertise for customized guidance with the freedom to choose from a wide range of investment options for tailored advice for you.
What is the benefit of working with a Registered Investment Advisor?
- A legal obligation to act in your best interest
The fiduciary standard of an RIA has a “fundamental obligation” to work in the best interests of its advisory clients. Recommendations will be made in good faith, based on your needs, and allow a direct line of communication if there is a need for clarification or change.
- Providing more than just investment advice
Financial professional teams within an RIA firm are often skilled in disciplines beyond just portfolio management. They include retirement, estate, charitable legacy, tax, insurance, education planning for you and your family, and corporate services, including employee benefits. These teams will work hand-in-hand with an established financial network to develop investment strategies considering tailored solutions for your unique financial situation.
- Transparent & available public records
Each RIA must file and publicly post a Form ADV that offers a comprehensive view of the organization. A Form ADV offers objective and transparent information, including conflicts of interests, compensation, disciplinary filings, education, and the firm’s key personnel.
- Straightforward fee-based compensation
Many RIA’s offer financial advice and planning for a fee based on a percentage of your assets under management. This service creates a mutual benefit of a transparent fee structure that aligns the clients’ best interests with those of the RIA.
- Professional Education
Many wealth management teams will usually include highly experienced financial professionals with prestigious designations. These teams often bolster professional training and certifications such as the Certified Financial Planner® (CFP®) designation, Accredited Asset Management Specialists® (AAMS®), Certified Public Accountant (CPA) or Accredited Investment Fiduciary® (AIF®) and commit themselves to continuous education on your behalf.
Consider a Registered Investment Advisor at Confluence Financial Partners
Simple, straightforward, and non-biased assistance with your comprehensive financial plan aligns with the priorities of an RIA. If you are looking for wealth management advice at a concierge level of service, Confluence Financial Partners, may be the team of financial professionals for you.
Please contact a member of the Kimmich Team if you’re interested in having a discussion.