· Registered Investment Advisors are independent contractors – which means they’re self-employed or employees of their own firms. In many states, they’re required register and hold either a Series 65 license - or a combination of Series 7 and 66. · How do they make their money? For portfolio management, the fee’s typically a percentage of the client's total portfolio. But they could also charge hourly or flat fees. · RIAs evaluate client needs risk tolerance, then recommend appropriate investments. · RIAs may offer other wealth management services, like retirement, trust, tax, charitable giving, estate and financial planning.
