Investors Choose RIAs because of Fiduciary Duty

In a recent survey TD Ameritrade (HERE), Trust and Customer service are the most important reasons why clients opt to work with registered investment advisors (RIAs)

• The quarterly query found that 29% of clients using RIAs said their fiduciary responsibility to work in the best interest of clients was the No. 1 reason they got their business.
• More personalized service and a competitive fee structure came in second at 21%,
• just ahead of dissatisfaction with their current or former full commission broker (19%).

“The survey results support what we believe is a long term trend of investors gravitating to the fiduciary model,” Tom Bradley, president of TD Ameritrade Institutional, said in the report. “Investors may increasingly seek the confidence that can come from working with independent RIAs who sit on the same side of the table and are required by law to put their clients’ interests first.”

Investors want a Fiduciary relationship with their Financial advisors; similar to the relationship they have with their Doctor, Lawyer, and Accountant