Once you make the decision to take the next step toward ensuring a solid financial future, the next is who you should work with. There are all types of financial professionals that provide a variety of services, and one that we get asked about is the registered investment advisor or RIA. Are they an individual financial advisor or is it a company?
In this episode, Laura Stover, RFC® and Michael Wallin, CFP® will provide some clarification as to the role an RIA plays in financial planning and uncover why these differences between professionals may be important to you. By understanding and recognizing the type of advisor that’s going to fit your needs, you’ll have the confidence to trust the process and work toward your financial goals.
This will be one of the most crucial decisions you’ll make regarding your money so knowing what an RIA is and how that differs from a CFP®, CPA, broker, insurance agent and others will arm you with the knowledge you need to choose what’s best for you.
Redefining Wealth® Custom Blueprint Income Plan: https://redefiningwealth.info/schedule/
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Timestamps (show notes):
2:42 – Here’s how RIAs are defined
5:00 – One of the big differences with LS Wealth Management
8:44 – Commissions
11:06 – How much do RIAs charge in fees?
14:27 – 3 planning options to choose from
19:39 – Why need you need strategies for taxation
24:41 – What is a fiduciary’s responsibility
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