RIA (registered investment adviser)
A firm registered with the SEC or a state to provide investment advice, owing clients a fiduciary duty.
A registered investment adviser is a firm — or an individual operating as one — registered with the Securities and Exchange Commission or a state securities regulator to provide investment advice for compensation. RIAs owe a fiduciary duty to their clients under the Investment Advisers Act of 1940.
Every RIA files a Form ADV, a public disclosure document that lays out services, fees, conflicts of interest, disciplinary history, and the people behind the firm. It is searchable free at adviserinfo.sec.gov. Reading the ADV of any firm you are considering is a plain, boring, useful step.
RIAs are distinct from broker-dealers, who trade securities on your behalf under different rules; from insurance agents, who sell insurance products; and from unregistered educators and commentators, who do not provide personalized advice at all. Plumb is not an RIA and does not give personalized investment advice — the line the law draws is the line we hold. When a personalized recommendation is what you need, an RIA is the category of firm defined to give it.
Plumb is financial education, not financial, investment, tax, or legal advice.