If you have significant holdings or a wealth of assets, you may have already considered hiring a Registered Investment Advisor (RIA). An RIA is a wealth-management professional who specializes in helping high-net-worth individuals manage their portfolios and make wise investments. However, RIAs also often leverage their expertise to assist people from all walks of life, whether they wish to begin investing or are trying to save money for retirement.
Here, we explain what RIAs do and why you should consider hiring one.
What Registered Investment Advisors Do
A Registered Investment Advisor is an individual or entity that provides clients with financial advice. RIAs can be distinguished from other kinds of financial advisors because they:
- Have a fiduciary duty to act in their clients’ best interests. Other financial advisers, like stockbrokers and dealers, may only be obliged to offer suitable advice. RIAs, on the other hand, must only recommend financial decisions they genuinely believe will be best for their client.
- Must be registered. RIAs must register with the Securities and Exchange Commission (SEC) or with their state’s securities regulators. These agencies ensure that RIAs are fulfilling their fiduciary duties.
- Are licensed to provide more than just investment advice. Along with helping clients make investments and manage their portfolios, RIAs can help with other financial matters, like retirement and estate planning.
The Benefits of Working With an RIA
Since RIAs are required by law to put their clients’ interests above their own—and are overseen by the federally run Securities and Exchange Commission—they can be trusted to make honest financial recommendations based on each client’s unique circumstances, goals, and long-term aspirations. As financial experts, RIAs can offer a breadth of services: while they are best known as investment advisers, they can help in a great many other ways, too. An RIA can, for instance, tie together a client’s investment portfolio with their retirement plan and estate arrangements.
Contact Quraishi Law to Get Started
Quraishi Law is licensed to act as a Registered Investment Advisor. With years of experience in wealth management, estate planning, and legal practice, Quraishi Law has the background needed to move you closer to your dreams. Send us a message online or call us today to discuss your options.