The correct answer is: B. registered investment advisors.
A registered investment advisor (RIA) is an individual or firm that provides investment advice to clients for a fee. RIAs are registered with the Securities and Exchange Commission (SEC) and must meet certain requirements, including having a certain level of education and experience, and passing a series of exams.
Registered representatives are individuals who sell securities on behalf of a broker-dealer. They are not required to be registered with the SEC, but they must be registered with the Financial Industry Regulatory Authority (FINRA).
Registered financial planners are individuals who provide financial planning services to clients. They are not required to be registered with the SEC or FINRA, but they may choose to become certified financial planners (CFPs).
Registered securities consultants are individuals who provide investment advice to clients, but they do not sell securities. They are not required to be registered with the SEC or FINRA.
Here is a table that summarizes the key differences between these four types of financial professionals:
| Type of Financial Professional | Description | Registration Requirements |
| — | — | — |
| Registered Investment Advisor (RIA) | An individual or firm that provides investment advice to clients for a fee. RIAs are registered with the Securities and Exchange Commission (SEC) and must meet certain requirements, including having a certain level of education and experience, and passing a series of exams. | Must be registered with the SEC and meet certain requirements. |
| Registered Representative | An individual who sells securities on behalf of a broker-dealer. They are not required to be registered with the SEC, but they must be registered with the Financial Industry Regulatory Authority (FINRA). | Must be registered with FINRA. |
| Registered Financial Planner | An individual who provides financial planning services to clients. They are not required to be registered with the SEC or FINRA, but they may choose to become certified financial planners (CFPs). | Not required to be registered with the SEC or FINRA, but may choose to become certified financial planners (CFPs). |
| Registered Securities Consultant | An individual who provides investment advice to clients, but they do not sell securities. They are not required to be registered with the SEC or FINRA. | Not required to be registered with the SEC or FINRA. |