“These days, your fellow investors have adopted a distinct preference for working with fiduciary advisors as opposed to the broker-dealers and wirehouses of the past. The Registered Investment Advisor (RIA) channel has absolutely exploded in size since the prior peak in household investing back in 2007. Large Wall Street brokerages have seen their market share of the investment business shrink below 50% for the first time in, well, ever. Increasingly, clients and assets are finding a home with advisors who are bound to a higher standard of care. RIA firms are paid solely by individual clients like you, and, as such, they do not have the myriad of conflicts inherent in the old brokerage model.”
