Investing in the Right Decision

Investing in the Right Decision:

 An important difference to know when searching for the right financial adviser

ID-100128701

The first step to making any decision in life is to fully understand the options involved. Whether the decision being made is “what type of car should I buy?” or “which larger home best fits our growing family needs?” thought and research is required to find the best solution.  As some decisions are naturally deemed more important than others, your decision in whom you choose to help guide you to financial prosperity and stability may be one of the most important decisions. This is because the decision will not only affect you now, but will have major impact on your future.

Uncover the facts – it’s important to understand if the financial partner you are working with or are considering working with is a Registered Investment Adviser (RIA) or a financial sales person.  There is a BIG difference that could ultimately affect how your life journey evolves.  According to the website, RIA Stands For You, an RIA “is a professional advisery firm that offers personalized financial advice to clients who require a high level of investment management strategy and consultation”. There are numerous differentiators that highlight an RIA firm, but  here are 5 distinctions. 1

profile-pic

  1. Tailored advice based on your goals. Many Registered Investment Advisers (RIAs) believe that their independence is key to offering advice that’s best for you.
  2. You know what you’re paying for. Typically, fees are based on a percentage of assets managed, so the RIA has a vested interest in your success.  This fee structure is simple, transparent, and easy to understand, and it gives your adviser an incentive to grow your assets.
  3. Fiduciary Responsibility: While many financial advisers may represent that they put their clients’ interest first, RIAs are legally required to do so.  You could say that we “talk the talk AND walk the walk”. 2
  4. Advice for your complex needs. A rich diversity of specialization among RIAs. Many independent RIAs provide services that address a variety of complex investment needs that often arise when you accumulate significant wealth, such as assisting you with the sale of a business, complicated tax situations, trusts, and intergenerational issues.
  5. A different kind of relationship. RIAs typically form close relationships with clients and have a strong sense of accountability. 3

As you move through the process of interviewing advisers and researching firms for the partner you’ll count on, keep these five points top of mind and recognize what a RIA firm can bring to you and your family. Perhaps, you are not actually dissatisfied with your current adviser, but feel that you may not be getting the right amount or kind of attention you need. You now have the power of knowledge to understand what a RIA firm offers and the difference it can make for you.

For more information visit www.paynewealthpartners.com.  On our website you should be able to find answers to most  questions you might have, and we are always happy to meet and discuss anyone’s situation.

Author: Ann Pendley CFP(r) (Bio)

Direct Phone: 812-602-6304

Email:  aapendley@paynewealthpartners.com

1 Source: RIA Stands for You benefits of an RIA page
2 Under the Investment Advisers Act of 1940 and similar state statues, a Registered Investment Adviser (RIA) is a fiduciary. Fundamental to the federal fiduciary standard are the duties of loyalty and care which require a RIA to serve the best interests of its clients, including an obligation not to subordinate the clients’ interests to its own.
3 Source: Charles Schwab RIA Benchmarking Studies (study fielded February and March 2012, with self-reported data from 1,025 firms).

start-the-conversation

The information in this material is only as current as the date indicated, and may be superseded by subsequent market events or for other reasons. While all information prepared in this document is believed to be accurate, any statements of opinion constitute only current opinions of Payne Wealth Partners, Inc., which are subject to change and which Payne Wealth Partners, Inc. does not undertake to update. Accordingly, you should not put undue reliance on these statements. The information does not attempt to examine all the facts and circumstances that may be relevant to an individual’s financial needs. Payne Wealth Partners, Inc. is not soliciting any action based on these statements.

Contact Our Offices

Payne Wealth Partners, Inc.
Keystone Financial Consulting
601 N Cross Pointe Blvd
Evansville, IN 47715
Phone: 812-477-6221
Toll Free: 888-477-6221
  • YouTube
  • Follow us on twitter
  • Follow us on facebook
  • Follow us on linkedin
  • GooglePlus
×

FREE Financial Planning Guides and other exclusive content!

Get instant access to download all our current - and future - informational whitepapers and guides plus join our mailing list to receive the latest Payne Wealth blog posts. 

SUCCESS! Please check your e-mail inbox for your access link and password.