Would love to get some help...
I plan on investing part of an inheritance from my deceased Mother in the amount of $175,000.00. I am thinking about going with Fidelity Investments in an actively managed advisory account. Have read going with a Registered Investment Advisor is best as far as fiduciary responsibility and receiving objective advice.
The prospectus proposals Fidelity sent me have the names of the Investment Advisors which are firms, and Portfolio Managers and Co Managers listed as individuals. They use a "Team Approach" when actively managing mutual fund portfolios. Using Finra.org's "Broker Check", I've searched for the qualifications of three different managers on one fund and cannot find any designation for R.I.A. (Registered Investment Advisor), for any of the three managers. Customer Service told me this morning to call Fidelty's Portfolio Advisory Service on Monday and check with them.
Would anyone on this forum have any other ideas as how to check on whether the fund managers of several of my mutual fund prospectuses have gained the designation of Registered Investment Advisor. I heard it can really make a big difference in one's returns over time by a R.I.A. having to move you into a fund that's right for you...not one that's higher commission for them.
In a mutual fund where there is a team approach in management, should I be satisfied if just one of the managers or co managers is a R.I.A. or should I be concerned if all of them aren't R.I.A,s?
Thank you for any help!