Whiston Asset Management Group
Although many brokers offer investment advice and financial planning services (and often portray themselves as "advisors" in their marketing materials), there are fundamental differences between a broker and an Independent Registered Investment Advisor (RIA) like Whiston Asset Management Group, Inc. (WAMG)
Broker - Primarily in the business of buying and selling securities for commission.
RIA-WAMG - In the business of providing advice and managing money for a fee.
Broker - Representatives are typically contractors or employees of a larger broker dealer.
RIA-WAMG- Independent, and not owned by another company.
Broker - Typically compensated by commissions and mark ups on transactions; NOT required to disclose compensation.
RIA-WAMG- Compensated by fees; all of which are fully disclosed and deductible with no commissions on investment products.
Broker - Regulated primarily by The Financial Industry Regulatory Authority.
RIA-WAMG - Regulated by the Securities and Exchange Commission and applicable state laws.
Broker - Held to "suitability standards" - must have reasonable grounds to believe a transaction they recommend is suitable for the investor.
RIA-WAMG - Held to FIDUCIARY standards - required to act in our clients' best interests at all times.