What is a RIA in finance?
Could you please elaborate on what a RIA stands for in the realm of finance? I understand it has something to do with providing financial advice, but I'm curious about the specific nature of its operations, qualifications required, and the services it typically offers to clients. Additionally, I'm interested in understanding how RIAs differ from other financial advisors and the regulatory framework they operate under. Could you provide a concise yet informative description of a RIA in finance?