The RIA Difference

What is the Difference between an Investment Advisor and a Broker?

  • Doyle Investment Management is a Registered Investment Advisor, registered in the state of Indiana.

  • Investment advisors have a fiduciary responsibility to act in the clients best interest at all times. Brokers have no fiduciary responsibility.

  • Investment advisors charge a fee that is negotiated in advance and do not earn any other profits from their clients. This is an asset based fee that aligns the advisor and the client Brokers commissions can go up, even if the clients asset size decreases.

  • Investment advisors do not engage in other business activities, such as investment banking or underwriting which brokerage firms do.

  • Investment advisors must disclose any conflicts of interest.

  • Investment advisors observe procedures involving the allocation of investment opportunities, including best execution and aggregation of orders.

  • Investment Advisors adopt and maintain a code of ethics (Doyle Investment Management adheres to the CFA Institute Code of Ethics).


Doyle Investment

100 S. Madison Ave.

Greenwood, IN 46142


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