I wrote a blogpost a few months back titled 'Make Financial Integrity #1 When Choosing an Investment Advisor, where I attempted to clearly define the lay of the land in regards to the financial industry - specifically the investment advisor role. Today I came across a similar article written so well, I have to share it with you.
Rueters columnist Mark Miller, in his article 'Shakeup Complicates Finding a Good Financial Adviser, expresses how as a result of recent difficult financial markets and tougher regulations, it is becoming more challenging to find a financial adviser to match you and your needs. He navigates the reader through the process by explaining the differences between financial advisers from brokerage firms and (often independent) fee-only planners. He goes on to describes what an RIA is and what their responsibilities to their clients are. He discusses the future of financial advisers and explains what is going on in the industry. He talks about fraud and enforcement of rules and regulations and then ends his article with a few solid takeaways.