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Milestone Consulting, LLC
(716) 883-1833

Monolith Advisors is a wealth management firm offering a full spectrum of services to plaintiffs, their families, trial lawyers, and law firms. Unlike many larger, big-brand wealth management firms that simply place clients into a predetermined strategy, Monolith Advisors combines wealth management expertise with experience in the civil justice industry to develop personalized, collaborative financial strategies for their clients. 

We interviewed Amy Fogle, Director of Wealth Management, about Monolith’s services. Here’s what she had to say.

Monolith Advisors is an RIA, but what does that mean?

While it’s certainly possible for plaintiffs and attorneys to manage and invest settlement assets themselves, many people seek the advice and peace of mind of utilizing a financial professional when looking to plan for the future. As you seek out advice and guidance, you might encounter unfamiliar acronyms that describe both advisors and their firms. Monolith Advisors is a registered investment advisory (RIA) firm. The definition of a RIA comes from the Investment Advisers Act of 1940. An RIA is: “a firm that is engaged in the act of providing advice, making recommendations, issuing reports or furnishing analyses on securities, either directly or through publications.” RIAs must register with either the U.S. Securities and Exchange Commission (SEC) or with state securities administrators. Being registered as an RIA doesn’t mean the firm is endorsed by the SEC or state authorities. Instead, it means that the firm has met the initial and ongoing compliance requirements for registration.

What exactly does an RIA firm do?

RIAs are investment advisory firms that provide financial planning, investment advisory, and wealth management services for clients in a fiduciary capacity. RIAs work with a variety of clients to not only manage assets but also guide clients to their long-term goals. That may involve trading in or out of a portfolio on a client’s behalf in addition to offering advice and guidance on investment strategies. 

The key differentiator between an RIA, such as Monolith Advisors, and other types of investment advisors is that RIAs are bound to act as a fiduciary. In other words, we must adhere to a fiduciary standard, acting in the best interest of our clients at all times. When providing investment advice based on what’s best for our clients, it’s not one size fits all. Rather, we take a personalized approach to each portfolio and the needs of our clients. Because RIAs are regulated by the SEC, they may bring enforcement action against any RIA that breaches its fiduciary duty, again, giving you peace of mind that we are working with your best interest in mind. Monolith is proud to provide a variety of wealth management services to those in the civil justice community.

For more information about Monolith, visit monolithseventh.com.

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