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Is knowing that an adviser is “registered” enough?

July 6, 2011
by Jack Reynolds

I found an interesting piece on the degree to which you should be comforted that an adviser is a Registered Investment Adviser (RIA). The answer is, don’t put too much reliance on that factor alone.

Registering as an RIA “is just notifying regulators that you are holding yourself out as a professional investment adviser, and that doesn’t necessarily mean that you’re good, or ethical, or competent,” said Sheryl Garrett, founder of Shawnee Mission, Kansas-based Garrett Planning Network Inc., a network of fee-only financial planners.