I serve customers in Grand Rapids, MI and surrounding communities. My mission is to provide local families and businesses with innovative financial strategies, solutions and planning.
In the financial services industry, there are generally two ways of obtaining financial advice; one is given by registered representatives and the other by investment advisor representatives. We feel that information is power in today’s complicated financial world. We are able to offer a variety of financial services products so that our clients can make educated decisions about what products are best suited for them.
Below are some comparisons of the difference between a registered representative and an investment advisor representative.
Registered representatives (sometimes known as stockbrokers) make trades on behalf of clients in exchange for a commission. A broker is defined as “any person engaged in the business of effecting transactions in securities for the account of others.”
A registered representative must:
- Pass qualifying exams: such as the Series 6 or Series 7 and Series 63 (Uniform Securities Agent State Law Exam)
- Be employed by or associated with a broker-dealer firm
You will pay a broker a commission on each transaction made on your behalf. Brokers are required to make “suitable” investment suggestions based on your overall financial situation. Despite this requirement, brokers do not have any fiduciary duty to act in your best interest.
Investment Advisor Representatives provide advice about securities to clients for a fee (as opposed to a commission). Investment advisors receive compensation for providing advice regarding various investment products. Investment advisors are fiduciaries with an affirmative duty of ‘utmost good faith and full and fair disclosure of all material fact, as well as an affirmative obligation to employ reasonable care to avoid misleading’ clients.
As an investment advisor I strive to:
- Put your interests first
- Understand your specific financial situation
- Offer straightforward advice that reflects your long-term goals
At Integrity Financial Group, LLC, we offer our prospective clients an initial complimentary risk assessment where we provide third-party analysis of their current investments, personalized income projections, and ideas for immediate implementation. We look forward to our initial visit and finding out how we can help you get one step closer to your financial goals.