RIA vs Independent Advisor
I know I’m probably going to catch grief for this question but what are the differences between RIA and being Independent?
Is it that RIA's don't do individual securities and only mutual funds and wrap accounts? Indy's can do everything RIAs can do if they have a 66 right?Maybe if you would take the time to at least search old threads here you might find people more inclined to fill in the gaps in your understanding. Suffice it to say your understanding of the distinction between RIAs and “being independent” is completely wrong.
Since I’m lazier than you and or maybe dumber can you enlighten me?
I can enlighten you, but if you don’t care enough about getting an answer to your question to put forth even minimal effort, why would you expect others to care more than you? How hard is it to use a search button?
You may think I’m just being a jerk, but the fact is that if you are unable or unwilling to do anything for yourself, then for you it really doesn’t even matter what the distinction between RIA and “independent” is, because you don’t have the mindset or initiative to pursue either.
Hey dip k Morp I could find out in about 5 minutes of reading online but it took me 10 seconds to ask the question. If you don’t want to answer that’s fine dic h*.
Given the volume of stupid posts that YOU have made, you lack the standing to criticize anyone else around here.
Your opinion really means a lot to me, Bobby, especially given the ever growing number of stupid aliases that you use here simply in order to be allowed to spew more of your toxic waste.
Hey dip ***k Morp I could find out in about 5 minutes of reading online but it took me 10 seconds to ask the question.
I could give you an answer in about 5 minutes but it only took me 5 seconds to tell you to how to easily find the answer all by yourself, like a real grown up.
[quote=BiLo] If you don’t want to answer that’s fine dic* h***.[/quote]
With your juvenile entitlement attitude and name calling you’ll no doubt soon have people lined up around the block for the opportunity to do your work so that you don’t have to. I guess I’ll reluctantly have to take a pass this time around, despite how tempting you make it sound to help out.
One works for the other
Morphius you are wierd.
This from the guy who said, “I know I’m probably going to catch grief for this question but what are the differences between RIA and being Independent?” and then when you caught grief exactly as you knew you should, you lash out at those who could help you if you but showed an ounce of effort. And you think I’m weird?! You can’t even spell it.
It’s your life. If you prefer to spend it remaining ignorant no one is going to stand in your way, but personally I think that that is weird.
[quote=BiLo]I know I’m probably going to catch grief for this question but what are the differences between RIA and being Independent?
Is it that RIA's don't do individual securities and only mutual funds and wrap accounts? Indy's can do everything RIAs can do if they have a 66 right?[/quote]Bilo:
Send me an email I can give you a 15 minute lesson. You have a lot of questions on the forum and I think you are confusing yourself by asking multiple related questions, but no one really understands what you are trying to accomplish.
Your choice now.
ash
[email protected]
[quote=Morphius] Maybe if you would take the time to at least search old threads here you might find people more inclined to fill in the gaps in your understanding. Suffice it to say your understanding of the distinction between RIAs and “being independent” is completely wrong.
[/quote]
Morpuss, you should be served a giant can of STFU. If you PM me I can translate STFU for you. If someone ask a question why not link the previous question so they can see the thread? Instead you try to make them look foolish. What if one of your clients asked about a certain type of investment are you going to tell them it’s already been asked don’t waste my time? AXXHOLE!
Dear Harley,
Thank you for your deep, probing insight and oh-so-clever name-calling. It added so much light to the conversation. Here’s a news flash for you: my clients PAY ME to do work for them. Lazy, ignorant, demanding fools like you and BiLo are owed nothing, despite feeling entitled to everything.
I look forward to you taking the time to answer the question yourself and/or do the searching for the answer to every question, no matter how many times it has been covered here. Make sure you don’t miss any of the many answers or you will be an “axxhole!”"
Ready … GO!
P.S. It’s OK to keep posting under your original username, also.
[quote=Morphius] Dear Harley,
Thank you for your deep, probing insight and oh-so-clever name-calling. It added so much light to the conversation. Here’s a news flash for you: my clients PAY ME to do work for them. Lazy, ignorant, demanding fools like you and BiLo are owed nothing, despite feeling entitled to everything.
I look forward to you taking the time to answer the question yourself and/or do the searching for the answer to every question, no matter how many times it has been covered here. Make sure you don’t miss any of the many answers or you will be an “axxhole!”"
Ready … GO!
P.S. It’s OK to keep posting under your original username, also.[/quote]
Deep and probing? I will pass on that thank you very much. I am curious why do find the OP lazy, ignorant and demanding the OP just asked a very simple question. Oh and yes me and BiLo are not owed a thing but we really feel entitled to everything. That is brilliant! If you don’t want to answer a question why don’t you just skip it rather than make some smart arse remark? So what if a question gets asked over and over not everyone reads this forum on a daily basis. What made you decide to be the self appointed policeman of this forum? Get back to me on that Morpuss.
Harley 43 (original user name)
Since your two whole valuable posts have been entirely dedicated to being a self-appointed policeman demanding that others serve up information for you so that you don’t have to go to the extreme sacrifice of using a search button, which you are obviously equally incapable of using, just this once I’ll repeat the logic behind correcting the OP’s inaccurate understanding AND why informing him how and where he could easily get an accurate answer is the best thing for him:
[quote=Morphius] I can enlighten you, but if you don’t care enough about getting an answer to your question to put forth even minimal effort, why would you expect others to care more than you? How hard is it to use a search button?
You may think I’m just being a jerk, but the fact is that if you are unable or unwilling to do anything for yourself, then for you it really doesn’t even matter what the distinction between RIA and “independent” is, because you don’t have the mindset or initiative to pursue either.
[/quote]
Perhaps if you had any understanding about what going independent entailed, you would better grasp the concept of teaching someone how to fish, rather than simply giving them a fish. Ironically, it is always the lazy and immature ones who complain about having to exert any effort to better themselves; the rest know from experience that nothing beats the satisfaction of achieving our goals - especially those that require the greatest effort. It is precisely those like BiLo and yourself who spend their energies complaining that others aren’t doing enough for them, who most need to learn this life lesson.
But I digress, and no doubt needlessly because the chances of you seeing the plank in your own eye are slim to none. I still am waiting for you to put your money where your mouth is: where exactly is your answer to the original question, along with quotes from or links to other threads that provides the answer? After all, as you say, "the OP just asked a very simple question."
Let’s see you answer that simple question.
Or are you - who have contributed ZERO helpful information to ANYONE here - only capable of criticizing others for not doing what you are unable or unwilling to do?
Good job Morph, you probably saved that mans career by making him read endless boring post to get his answer. Searching the forum is so vital to our careers. You should be a life coach.
Good job Morph, you probably saved that mans career by making him read endless boring post to get his answer. Searching the forum is so vital to our careers. You should be a life coach.
F U, Tool.
Morph contributes plenty on here and your first few posts are to criticize him? You and that dumbf*ck, BiLo, should be thrown in the slammer before being allowed in front of prospects because that is where both of you fools will end up. God help the poor suspects you scam, I hope they throw the book at your incompetent and incapable ass*s when it is all said and done.
[quote=Harley43] Good job Morph, you probably saved that mans career by making him read endless boring post to get his answer. Searching the forum is so vital to our careers. You should be a life coach.
F U, Tool.
Morph contributes plenty on here and your first few posts are to criticize him? You and that dumbf*ck, BiLo, should be thrown in the slammer before being allowed in front of prospects because that is where both of you fools will end up. God help the poor suspects you scam, I hope they throw the book at your incompetent and incapable ass*s when it is all said and done.[/quote]
Sorry to upset you. I didn't know you two were a couple.
Good job Morph, you probably saved that mans career by making him read endless boring post to get his answer. Searching the forum is so vital to our careers. You should be a life coach.
I guess that clearly answers my question - you are obviously unable or unwillng to do exactly what you criticize me for. Classic.
Since I know it would be asking too much for you to go back and find either of the posts you could not respond to on your own, let me quote it here for you:
[quote=Morphius] I still am waiting for you to put your money where your mouth is: where exactly is your answer to the original question, along with quotes from or links to other threads that provides the answer? After all, as you say, "the OP just asked a very simple question."
Let's see you answer that simple question.
Or are you - who have contributed ZERO helpful information to ANYONE here - only capable of criticizing others for not doing what you are unable or unwilling to do?
[/quote]
Is calling people names all you can do? And are you so stupid as to think every single person reading this isn't painfully aware of the fact that you keep just keep squirming and trying to change the subject precisely BECAUSE you are incapable of answering a simple question. How embarrassing you are!
Three posts, zero useful advice contributed, and utterly incapable of even BEGINNING to answer what you yourself describe as a simple question. Nice work! We anxiously await your first coherent utterance.
Sorry to upset you. I didn’t know you two were a couple.
Ooh, ouch! Do you write your own material?!
THAT sure put us all in our places!
How about answering the question lad? Too much for you?
Yoo-hoo, HARLEY43!!
We’re still waiting for your answer … how many more days do you suppose you’ll need?
[quote=Morphius] Yoo-hoo, HARLEY43!!
We’re still waiting for your answer … how many more days do you suppose you’ll need? [/quote]
Enjoy!
Bilo, to answer your question I simply googled the following information. I hope you find it helpful to understand the difference between the two.
Registered Investment Advisor
Investment Advisor (IA) is an informal designation describing a person or firm in the United States who has registered with the U.S. Securities and Exchange Commission or state regulatory agency (where the primary business is situated or multiple States in some cases) in connection with the management of the investments of others. The proper designation for a person so registered would be “An Investment Advisor registered with the SEC” (or a specific state if so registered).
By definition an investment advisor is considered to be acting in a fiduciary capacity on behalf of clients with a higher standard of disclosure and due care, a commitment to disclose, minimize and resolve conflicts of interest than would be found in a traditional securities brokerage environment. In addition, most IAs are compensated on a fee basis (usually as a percentage of assets under management) rather than a commission basis.
In general IAs managing assets totaling less than $25 million must register with each state in which they have more than 5 clients. Firms managing more assets can register nationally with the Securities and Exchange Commission. Registration can be a complex process, taking longer than a month and costing several hundred dollars in filing fees, depending on the state or SEC. Registration requires that all employees of the IA (except those limited to clerical duties) pass the FINRA Series 65 exam or have completed an approved professional designation.
Registration does, however, cause one to become legally responsible for the investment advice given requiring more disclosure to existing and potential clients, filing of periodic reports with various regulatory bodies and to keep longer, more accurate records of the financial advice given to clients.
Enjoy!
Bilo, to answer your question I simply googled the following information. I hope you find it helpful to understand the difference between the two… and, because you are too f*ckin’ lazy and stupid to tell the difference it is just a matter of time before you end up in the slammer or on the front page of the WSJ because of your incompetence so I suggest retaining legal counsel now.
There, I finished the sentence for you, Harley.
[quote=MoodyIsAPunk]
Enjoy!
Bilo, to answer your question I simply googled the following information. I hope you find it helpful to understand the difference between the two… and, because you are too f*ckin’ lazy and stupid to tell the difference it is just a matter of time before you end up in the slammer or on the front page of the WSJ because of your incompetence so I suggest retaining legal counsel now.
There, I finished the sentence for you, Harley.[/quote]
It’s obvious that MoodyIsNotTheOnlyPunk.
Ooh YOO-HOO, Harley!! You took, what - three days? And you still didn’t even answer the question?!?
[quote=Harley43] Enjoy!
Bilo, to answer your question I simply googled the following information. I hope you find it helpful to understand the difference between the two.
Registered Investment Advisor
Investment Advisor (IA) is an informal designation describing a person or firm in the United States who has registered with the U.S. Securities and Exchange Commission or state regulatory agency (where the primary business is situated or multiple States in some cases) in connection with the management of the investments of others. The proper designation for a person so registered would be “An Investment Advisor registered with the SEC” (or a specific state if so registered).
By definition an investment advisor is considered to be acting in a fiduciary capacity on behalf of clients with a higher standard of disclosure and due care, a commitment to disclose, minimize and resolve conflicts of interest than would be found in a traditional securities brokerage environment. In addition, most IAs are compensated on a fee basis (usually as a percentage of assets under management) rather than a commission basis.
In general IAs managing assets totaling less than $25 million must register with each state in which they have more than 5 clients. Firms managing more assets can register nationally with the Securities and Exchange Commission. Registration can be a complex process, taking longer than a month and costing several hundred dollars in filing fees, depending on the state or SEC. Registration requires that all employees of the IA (except those limited to clerical duties) pass the FINRA Series 65 exam or have completed an approved professional designation.
Registration does, however, cause one to become legally responsible for the investment advice given requiring more disclosure to existing and potential clients, filing of periodic reports with various regulatory bodies and to keep longer, more accurate records of the financial advice given to clients.
[/quote]
What a piece of work you are!! After all that complaining, and all that time, and all that googling, and all that pasting and cutting, you still can’t even manage to address the original question, much less answer it as you so naively claim! Do you even remember the original question - the one you were so mad I didn’t answer - the one where BiLo asked:
[quote=BiLo] I know I’m probably going to catch grief for this question but WHAT ARE THE DIFFERENCES between RIA and being Independent?
Is it that RIA’s don’t do individual securities and only mutual funds and wrap accounts?
Indy’s can do everything RIAs can do if they have a 66 right?[/quote]
He did NOT ask for someone to copy and paste the definition of Registered Investment Advisor. He asked what the difference was between being an RIA and being independent, which you don’t even begin to address. Remember - this was, as you said, a “very simple question”:
[quote=Harley43] I am curious why do find the OP lazy, ignorant and demanding the OP just asked a very simple question. [/quote]
You’ve now had several days to google and search and do whatever you wish, using whatever resources you can, to answer this “very simple question” and all you can come up with is a cut and past definition of what an RIA is?!
To understand the difference between two things, you have to actually ADDRESS BOTH things - not simply cut and paste the definition of ONE of the two things.
Are you even paying attention to the question?! Are you even awake?! You criticize me for not answering the question - intentionally - and yet even with days to research it and an explicit challenge to do so you can’t manage to provide an answer yourself. Beautiful!
That was one supremely weak and embarrassing effort, young fella. But then again, you’re probably not used to the hard work of actually thinking or researching anything yourself - you obviously prefer to have others to do your work for you, and when they don’t you complain like the immature child you are.
I know you’ve had days already - but you might want to give that answer another go. Your first shot was pathetic.
We’re still waiting, Harley …
Oh master Morph I am so sorry to have failed you. To cut and paste was a horrible mistake on my part. I should have ADDRESSED BOTH things. Define “things” for me. By that do you mean both questions? Or the difference between the two registrations. Try to be specific so I can better understand what you are wanting from me. Be honest Morph when you graded my post did you give me a D or and F? The entire forum is watching and I want to do better next time. One more item master Morph. When I can snatch the pebble from your hand. Will it be time for me leave? This young grasshopper needs to know.
I doubt even you are as clueless as that, Harley, although I can’t be sure. How many times do you need the original question repeated for you?!? Are you also unable to read for yourself?
Here’s the original question for you - one more time - not that it will do you any good.
[quote=BiLo] I know I’m probably going to catch grief for this question but what are the differences between RIA and being Independent?
Is it that RIA’s don’t do individual securities and only mutual funds and wrap accounts?
Indy’s can do everything RIAs can do if they have a 66 right?[/quote]
All this time and all this complaining about how easy the question is and yet you still have not even BEGUN to answer the question. Why is that, Harley? Do you need yet another extension on this easy assignment?
Hint: You can try Google again, or you can simply use the search button for this forum. The exact answer can be found there, just waiting for you to apply your impressive copy and paste skills.
But please hurry! Poor BiLo is still waiting for someone like you to do this heavy lifting for him so that he isn’t inconvenienced with it. Maybe if the two of you join forces you might have half a chance …
What was the question again?
What was the question again?
Never mind. You've already answered it loud and clear.
Yet another child who indignantly complains that others don't do for him what he is unwilling to do for himself.
Three pages of b.s. to scarcely answer one “simple” question. And you wonder why people are reluctant to search for previously covered topics.
And your point is?Three pages of b.s. to scarcely answer one “simple” question. And you wonder why people are reluctant to search for previously covered topics.
Morph - The guys’ name is opal. Is it possible to even take them seriously?
Morph - The guys’ name is opal. Is it possible to even take them seriously?
Well, that plus there is always that minor fact that he is not even a FA - he is a recruiter - who is apparently still trolling this forum in the hopes of figuring out the RIA world before his client wakes up and realizes he retained a recruiter who has no experience or understanding in this particular area.
I sure would hate to disappoint in any way this non-FA who stands to make a lot of money if he can only get other people to do part of his work for him for free. I don't know how I could sleep at night with that on my conscience.
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