July 30, 2013
In the aftermath of the financial crisis, the ranks of independent financial advisers have grown, as investors have left Wall Street in search of more objective guidance.
While brokers have historically focused on investment advice, RIAs may also provide tax and estate planning. Some even help clients with tasks like tracking medical bills and researching assisted-living facilities for a parent. Ask a prospect to list the range of services he or she provides, says Deena Katz, an associate professor of personal financial planning at Texas Tech University in Lubbock.