Registered Investment Advisor
What Is a Registered Investment Advisor (RIA)?
Not all financial advisors operate under the same standard.
LNW is a registered investment advisor (RIA) serving individuals, families, foundations and institutions across the country. As an RIA, we are legally obligated to act in our clients’ best interests—a responsibility known as fiduciary duty.
While many financial professionals provide valuable guidance, the way they are compensated and the standards under which they operate can vary significantly. Understanding those differences can help you make more informed decisions about who you trust with your financial future.
Why Fiduciary Advice Matters
A fiduciary is legally required to place a client’s interests ahead of their own.
That means recommendations should be based on what best supports your goals, circumstances and long-term financial well-being—not on commissions, product sales or other incentives.
At LNW, fiduciary advice extends beyond investment recommendations. We help clients make informed decisions across all aspects of wealth, including investment strategy, trust and estate planning, tax considerations, philanthropy, retirement income planning and multigenerational wealth transfer.
Because every financial decision is interconnected, we believe advice should be too.
Not All Financial Advisors Are the Same
Financial professionals may operate under different regulatory frameworks, compensation structures and service models.
Some advisors are compensated through advisory fees. Others may receive commissions, transaction fees or other incentives tied to specific financial products or services.
The most important questions to ask are:
- Are you acting as a fiduciary when providing advice?
- How are you compensated?
- What fees will I pay, directly and indirectly?
- How do you identify and manage potential conflicts of interest?
- Will your recommendations consider my complete financial picture, or only my investments?
Understanding the answers can help you evaluate whether your advisor’s incentives are aligned with your interests.
Understanding the Difference
Fiduciary Advisors vs. Commission-Based Advice
To this day, many financial advisors continue to fight against federal regulations that would require them to act as registered rnvestment advisors (RIAs) and provide advice that is in your best interest. The result: you are left to educate yourself. The chart below summarizes the main differences between Registered Investment Advisors and other types of advisors:
| Fiduciary RIA | Commission-Based/Broker Model | |
|---|---|---|
| Primary Standard | Must act in the client’s best interest | Must satisfy applicable suitability or regulatory requirements |
| Compensation | Advisory fee paid by the client | May include commissions, transaction fees or product-based compensation |
| Conflicts of Interest | Required to disclose and manage conflicts | Required to disclose and manage conflicts |
| Approach to Advice | Advice designed around the client’s overall goals and circumstances | Advice may be tied to specific products or transactions |
| Scope of Service | Often integrates investment management with broader planning | May focus primarily on investment products and transactions |
Some financial professionals operate under multiple registration models and may provide services under different standards depending on the engagement. Ask your advisor how they are compensated and when they are acting in a fiduciary capacity.
The LNW Difference
Fiduciary Advice Is the Starting Point. Comprehensive Guidance Is the Difference.
Choosing an advisor is about more than understanding how they are compensated or the standard under which they provide advice. It is about finding a trusted partner who can help you make informed decisions across all aspects of your financial life.
At LNW, we believe investment management is just one piece of the picture. As a registered investment advisor and trust company, we bring together investment management, wealth planning, trust and estate expertise, tax-aware strategies and multigenerational guidance under one roof.
Our approach is designed to help clients:
- Align investment decisions with long-term goals
- Coordinate wealth, tax and estate planning strategies
- Manage risk across their entire balance sheet
- Create sustainable income and spending plans
- Preserve and transfer wealth across generations
- Support the causes and communities that matter most to them
For more than six decades, individuals, families and foundations have trusted LNW to provide objective advice and thoughtful guidance through changing markets, life transitions and evolving financial needs.
Our goal is simple: to help clients make confident decisions with advice that is independent, personalized and aligned with their best interests.
Because wealth is about more than markets. It’s about family, purpose and the opportunities you create for the future.
GET IN TOUCH
Looking for a fiduciary wealth advisor?
Learn how LNW’s integrated approach to investment management, wealth planning and trust services can help you achieve your goals.
To start the conversation, just fill out the simple form below. We look forward to meeting you.
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