How is a Registered Investment Advisor different than a Broker/Dealer?
SL: Does it seem appropriate for a client to be “advised” by someone selling products and earning commissions? No. Therefore, at L&S Advisors, there is no brokerage, no products to sell, no commissions or additional hidden compensation. We would also advise clients to choose advisors free of conflicts of interest, which we avoid. We are fee only. There are no bank, brokerage, insurance or estate plans. It’s right there in our ADV-our SEC filing-and we provide it to every client. We focus all of our efforts on providing investment counsel to our clients, which we believe is a full time job. Q: What effect has the recent market volatility had on investors’ decision-making processes? SL: After realizing the effects of the recent 2008/2009 market turmoil, many investors have taken what we believe are inappropriate actions at an inopportune time, and in hindsight probably wished they had planned accordingly for the global economic downturn we are now faced with. Many investors seem quick to
