Schwab has launched a new website to help investors understand and appreciate the advantages of working with an independent Registered Investment Advisor (RIA). Here’s the link but you can also find it on our webpage menu under ‘Schwab’: The RIA Difference
The website describes the benefits of independence:
– Fiduciary standard of care not applicable in the world of broker / dealers and wirehouses
– Customized and attentive care
– Transparent and simple fee
Ultimately, working with an RIA means your money is held by an independent custodian, not the advisory firm. The translation….and independent advisor must earn your business each day because they are not the custodian of your assets.
Scwhab’s website also gives great tips on how to interview and find an advisor that is a good fit for you. What questions to ask when you meet with the advisor for the first time? Know what your own goals and desired services are before you go in. There is a lot of detail involved in choosing an advisor for you and your family and you want to get it right.
Lastly, the website has a search function where you can find independent Registered Investment Advisors near you.