- All firms are registered investment advisers ranked based on discretionary assets under management as defined by the Security and Exchange Commission as of Sept. 30, 2008.
- Greater than 50% of their business must serve the retail marketplace.
- Advisers must provide financial planning services, portfolio management for individuals or conduct due diligence on third-party advisers.
- They must not be doing business as a broker/dealer, bank or insurance company.
- They can neither charge commissions nor have registered representative employees at the firm.
- A majority of the RIA’s business must not be invested in proprietary products.