Over the next few months, we want to empower our clients, friends, and associates with the knowledge of how Registered Investment Advisors, like ourselves, operate. Based on questions we often receive from Money Matters, through our website, Facebook, and other sources, we narrowed down the top three questions we commonly get asked.
- How do RIAs typically operate?
- How do RIAs typically charge?
- What type of communications should you receive communication from your RIA?
Independent RIAs generally have affiliations with a variety of firms that assist with tax planning, estate planning, money management and more. These affiliations allow RIAs to help their clients with complex financial needs.
Independent RIAs often charge fees based on a percentage of your assets—so growing your portfolio benefits you both.
At a minimum, you should expect to receive:
Account statements from the advisor or custodian/brokerage firm where your assets are held, Quarterly summaries of year-to-date investment performance, and A comprehensive annual performance report from your advisor.
We recommend you download our extremely helpful booklet on Questions to ask your RIA with a helpful checklist to review before scheduling an appointment.