Working with a RIA Offers you a higher standard of care

RIA is an acronym which stands for “Registered Investment Advisor”.

As an RIA, we must register with the Securities and Exchange Commission (SEC). We earn our income through management fees, calculated as a percentage of clients’ assets under management (AUM). We do better when our clients do better.

In addition to offering investment advice, as an RIA, we also provide tax planning, estate planning, retirement planning, Medicare reviews, long-term care reviews, and life insurance reviews. All of this advice must be in the client’s best interest. If there is a conflict of interest with any of this advice, it must be brought to the client’s attention. We feel that this holistic approach wrapped around a higher level of care is best for our clients.

Most financial advisors are employed by broker-dealers. They are held to a suitability standard versus a fiduciary standard. They are not required to inform their clients of any conflicts of interest. They are not legally required to give advice in the client’s best interest. Instead, their advice must simply be “suitable” to a person in a similar situation. We feel that this lower level of care is not in the best interest of our clients.

The link below is our attempt at explaining in more detail the advantage of working with Bellars Harris Wealth Management. We hope you enjoy the video and look forward to receiving your feedback.