A registered investment advisor (RIA) is a professional advisory firm that offers personalized financial advice to its clients, many of whom are affluent.

• Many independent RIAs work with complex portfolios and address unique needs that require a highly customized level of investment management strategy and consultation.
• Many independent RIAs are owned by the individual advisors who run them.
• Many independent RIAs provide advice and services for a fee based on a percentage of the client’s assets.
• RIA firms are registered with the Securities and Exchange Commission or state securities regulators, are subject to the Investment Advisers Act of 1940, and have a fiduciary duty to act in the best interest of their clients.