Item: Shepherd Smith Edwards & Kantas, LLP
Rating: 5
Author: M.B.

What Is the Difference Between a Broker and a Registered Investment Advisor (RIA)?

Video Summary: Explaining the difference between a broker and a registered investment advisor and how they charge fees.

Video Transcript:

A broker is a person who generally works for a Wall Street styled firm. The brokers have to be licensed. They carry a license to sell the securities that they sell to their customers. Registered investment advisor is not licensed to sell securities, and the basic difference between them is typically how they charge fees.

Brokers will charge a commission on the trades that they make in your account. Whereas investment advisors are not allowed to charge commissions. They can only charge a fee for their services, either an hourly fee or a certain percentage.

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