what is a registered investment advisor ria 
a registered investment advisor ria is a financial professional firm that advises clients on securities investments and may manage their financial portfolios rias are registered with either the securities and exchange commission sec or state securities administrators rias have fiduciary obligations to their clients which means they have a fundamental duty to always and only provide investment advice that is in the best interests of their clients understanding registered investment advisors rias as noted above a registered investment advisor is a financial professional or financial services company that offers clients investment advice for a fee they are governed by financial ethics that compel them to act responsibly and in the best interests of their clients the rules on investment advisors were formulated by the investment advisers act of 1940 this law requires individuals or businesses that dispense professional investment advice to register with the sec although there are exemptions for smaller firms advisors might also be considered qualified professional asset managers qpams investment advisors who manage a minimum of 25 million in assets are permitted although not required to register with the sec it becomes mandatory for firms that manage 100 million or more as rias managing at least that amount are required quarterly to reveal holdings to the sec investment advisors who manage smaller sums of investment money are typically required to register with state securities authorities duties of registered investment advisors rias rias provide more services than just investment advice their services and advice may cover the following responsibilities of registered investment advisors rias rias must follow certain practices and procedures when furnishing advice to their clients the table below highlights these responsibilities 