An investment advisory, aka financial advisory, as in investment or financial organizations, consist of an unit of investment professionals in s central asset management to important clients or the clients’ relationship managers of the asset management organization. According to the Investment Advisors Act of 1940, an investor advisor is any group or person that makes recommendations about investments or performs securities analysis for a fee. Whether it’s done by publications or through the clients’ asset management, the performance of these services qualify the group or person as an investment advisor according to the Investment Advisors Act of 1940. According to the U.S. Financial Industry Regulatory Authority (FINRA), terms like a financial planner and financial adviser are job titles or general terms utilized by investment professionals. FINRA describes the main investment professionals’ groups who may utilized the term financial advisor as being insurance agents, brokers, accountants, financial planners, lawyers, and investment advisers.
Investment advisors, aka financial advisors, who have enough assets to register with the Securities and Exchange Commission (SEC) are known as a Registered Investment Advisor, or RIA. They explain investment experts’ ideas to their external or internal clients and recommends adequate investment solutions. They also identify the clients or their organization’s relationship managers’ wishes and needs and transmit them to the unit of central asset management. The financial products and services they offer also depends on the licenses they hold. For example, an insurance agent who sells life insurance may also be qualified to sell variable annuities. A financial advisor may be able to produce financial plans and/or sell financial products.
About Richard Blair
Richard Blair is the founder and CEO of Wealth Solutions, a registered investment advisory organization established in 1994 and located in Austin, Texas. The goal of this company is to make positive and significant differences for families, individuals, and small business owners by helping them to use strategies for retirement income planning and to avoid common pitfalls. And as a result, his knowledge and expertise for retirement planning has been honed.
In his earlier days, Blair was always attracted to the world of education. He witnessed from some of his loved ones how teaching can help one’s confidence and knowledge to grow. Using this teaching aspect along with his natural aptitude for finance, Blair started to assist clients when he entered the financial services industry after graduating from college.