Brian Smiley was quoted in a recent Bloomberg Businessweek article discussing Registered Investment Adviser’s. In theory, RIAs are legally bound to put their clients’ interests first, but in practice, they offer few protections for investors.

Commenting on the risk of losing money to thinly capitalized investment advisors, Atlanta-based securities lawyer Brian Smiley is quoted as saying, “If a large brokerage firm defrauds you, at least they have the money to pay you back.”