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I have a lot of money with a financial adviser at Smith Barney, but I am often afraid that he is not giving me advice that is in my best interest because he is not a "fiduciary". That means he is technically allowed to offer me products and services while placing his own financial interests above my interests. In other words, when weighing multiple options, he can just recommend the one that makes him the most money.
While researching online, I saw that there is a type of financial adviser called a Registered Investment Adviser (RIA) that is a fiduciary and is, therefore, required to place my interests first. Unfortunately, it doesn't seem like the major investment firms use RIAs.
Can anyone recommend where I can find an RIA who is affiliated with a reputable investment firm?
Thanks,
Norman
While researching online, I saw that there is a type of financial adviser called a Registered Investment Adviser (RIA) that is a fiduciary and is, therefore, required to place my interests first. Unfortunately, it doesn't seem like the major investment firms use RIAs.
Can anyone recommend where I can find an RIA who is affiliated with a reputable investment firm?
Thanks,
Norman
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