iard
How to become and profit as a fee-based registered investment advisor
The primary disclosure tool that the financial advisor must prepare and give to each client is form ADV. This contains information about the advisor's background for the past 10 years, how they manage portfolios, services they provide and fees they charge. This is now all maintained on line through the IARD system maintained by the FINRA. http://www.registered-investment-advisor.com/form_adv.htm.
Most states require Series 65 Uniform Investment Adviser exam. Some states require the principal of the RIA to pass the exam with a score greater than 70%. An alternative to the Series 65 is the combination of the Series 7 and Series 66 exams. The Series 66 is only good in conjunction with the Series 7. Although the series 7 is an FINRA exam, you do not need a broker dealer to take it. The 7/66 combination is generally used by an employee of a brokerage firm who is also registering as an investment adviser. http://www.registered-investment-advisor.com/series_65.htm. Essentially, the Series 66 equals the combination of the Series 65 and Series 63 exams. Certified Financial Planner (CFP), Accredited Personal Financial Specialist (APFS), Chartered Financial Consultant (ChFC), Chartered Financial Analyst (CFA), or Chartered Investment Counselor (CIC).
Often, people refer to registered investment advisors as investment advisors or investment managers or money managers. It really is a different position than selling stocks, bonds and mutual funds. http://www.registered-investment-advisor.com/money_manager.htm. The fee-based advisor looks after the investment portfolio and has two objectives: to retain the client and have the client's portfolio grow. Only by fulfilling these two objectives will the advisor see his income rise. The broker on the other hand, seeks typically to generate "gross" this month and may not have the same long term view. http://www.registered-investment-advisor.com/investment_advisor.htm.
If you are searching for any of the following topics:
You can find much more information by visiting
registered-investment-advisor.com. Please click to visit our site. Here is why you should visit us: