What is an RIA?
A Registered Investment Advisor (RIA) manages the assets of high net-worth individuals and institutional investors. He or she must register with the Securities and Exchange Commission (SEC) and any states in which he or she operates. Most RIAs are partnerships or corporations but individuals can also register as RIAs.
What is a Fiduciary?
A fiduciary is someone that manages money for the benefit of another. A fiduciary is bound by law to place the interest of its beneficiary first - before the fiduciary's own interest. An RIA, subject to the Investment Advisors Act of 1940, is a fiduciary. The legal investment advising standards that govern a non-fiduciary stockbroker and a fiduciary RIA are very different.
A non-fiduciary stockbroker only has to follow a "suitability" standard, which doesn't require the stockbroker to place the interest of the client above his own. The stockbroker only has to provide "suitable advice". An RIA, on the other hand, must follow the highest known standard in law which is the "trust" standard. The RIA is required by law to place the interests of its clients before its own and fulfill critical fiduciary duties of trust and confidence. The RIA must provide its "best advice".
What makes us different?
Split Rock Private Trading & Wealth Management is an RIA and conducts business as a fiduciary. It is our job to provide our clients with the best advice possible. The more money our clients make the more money we make. By not accepting any commissions on trades we have no incentives to make trades that may not be necessary. We only do what we believe is best for our clients, no exceptions!
What if I do not have the $100,000 minimum? Can I still invest?
Absolutely! Split Rock runs multiple investment models through Covestor. Covestor offers lower minimum account requirements and an easy to use and intuitive trading platform that will make it easy to invest with us. If you would like to set up a Covestor account and get started investing in one of our models, such as our Equity & Commodity Rotation model, head over to www.covestor.com to get started.
What is Covestor?
Covestor is an online trading platform with offices in New York City and London. Covestor provides Split Rock with an easy distribution channel and allows investors from all over the world to access and invest in our equity models by simply being Covestor members. Once someone is a member of Covestor they are able to subscribe to our portfolios. To see our Equity & Commodity Rotation model on Covestor click here.
What is Interactive Brokers?
By definition, Interactive Brokers is an online clearing firm used by financial professionals. Split Rock uses Interactive Brokers as a distribution channel for clients that already receive statements or have an established relationship with Interactive Brokers. Through Interactive Brokers, investors can have their financial professional allocate funds to be invested in one of our 100%-equity models (Equity & Commodity Rotation Model, Bakken & U.S. Energy Shale Model).
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