Independent Registered Investment Advisors RIAs are professional independent advisory firms that provide personalized financial advice to their clients, many of whom have complex financial needs. Because these advisors are independent, they are not tied to any particular family of funds or investment products. As fiduciaries, they are held to the highest standard of care — and are required to act in the best interests of their clients at all times. They are registered with either the Securities and Exchange Commission or state securities regulators.
5 Key Benefits of Independent Financial Advisors | Learning Hub
An independent financial advisor, specifically as a fee-only advisor, cannot receive commissions from the sale of insurance or investment products. Some independent financial advisors can collect fees and commissions, and refer to themselves as "fee-based". Does either compensation model truly deliver unbiased advice? The answer is no. Every compensation model in the financial services industry has some inherent flaws. First of all, what does fee-only mean? It means your independent financial advisor can only receive compensation directly from you for services delivered.
Still, with a growing number of mergers and acquisitions happening in the industry, many advisors are concluding that now is the right time to strike out on their own. For those who are used to the security of a job at a big firm with a steady income, the move to independence can feel unpredictable and risky. It also requires a fair amount of time, planning and the ability to withstand risk.
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