The stock market, not to mention life itself, has been a rollercoaster over the past few years.
In rinse-and-repeat-like cycles, stocks have tumbled as the pandemic, inflation or the Federal Reserve’s interest rate hikes have darkened the economic outlook — and rebounded as COVID or inflation have eased and the Fed has forecast market-friendly rate cuts.
After hitting record highs, markets have wobbled again in recent weeks amid an inflation flare-up that has sparked concerns over whether the Fed really will lower rates this year.
What’s the average investor to do?
Many experts say the answer is simple: Find a registered investment adviser (RIA) that you like and that fits your financial profile. RIAs are companies with a fiduciary duty to always act in their client’s best interests. They charge fees rather than sales commissions and employ investment adviser representatives (IARs) who are licensed to give financial advice and are increasingly taking a holistic approach to their clients’ financial lives.
Other financial firms, such as broker-dealers, earn commissions from selling stocks, bonds or mutual funds and need only provide suitable advice. Sometimes they may sell more expensive products that generate more revenue but don’t necessarily meet a person’s long-term goals.
To streamline your search for an adviser, USA TODAY has partnered with market research firm Statista for the second straight year to rank the top 500 RIAs in the searchable lists below.
That’s…
