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Southern Capital Services TV Interview
What is an Independent Registered Investment Advisor (RIA)?
An RIA is in the business of giving advice.
An independent RIA is not owned by another company or institution.
An RIA has a Fiduciary Responsibility to their clients. They are legally required to put the client’s interest first. This is a higher standard that what is required of brokerage firms, which is the suitability of an investment for an individual client.
An RIA is typically compensated by fees for advice, rather than commissions on buying & selling.
An RIA is regulated by the Securities and Exchange Commission (SEC) or the state in which they operate.
Started in 1996, 529 plans provide tax incentives for those saving for post-secondary education. The plan allows funds saved to be used at any eligible education institution, which typically includes colleges, universities, vocational schools or any post-secondary educational institute that is currently eligible to participate in U.S. Department of Education student aid programs.
The Trump administration’s new tax reform bill was signed into law in December of 2017, representing the first major tax change in over 30 years. The changes are significant and are likely to affect nearly everyone in some measure; some positively, while others may find themselves with a higher tax bill in 2018.