By Matthew J. Renaud Sr., ChFC®, President and Founder, Renaud & Company Registered Investment Advisors, a fiduciary RIA, with 34 years in financial services. Tax preparation is available through Renaud Tax & Accounting LLC (Jeannie Renaud, CPA), a separate firm in the same office. Information as of October 2026.
Quick answer: A fiduciary investment adviser is legally required to act in your best interest when giving investment advice, and advisors can be paid in different ways: a percentage of assets, a flat or hourly fee, commissions on products, or a combination. For households in O’Fallon and St. Charles County, the most useful step is to ask any advisor for the written Form ADV Part 2A and Form CRS, which spell out how they are paid and what conflicts they have.
What “fiduciary” means
Registered investment advisers (RIAs) owe their clients a fiduciary duty: a duty of care and a duty of loyalty when they give investment advice. Brokers follow a different standard, Regulation Best Interest, which applies when they make a recommendation. Neither label tells you the whole story, so ask which role the person is playing and whether it applies to all of the advice you receive.
The common ways advisors are paid
- A percentage of assets they manage. Simple and ongoing, but it can create an incentive to gather assets.
- A flat or retainer fee. Predictable for planning work; ask what is included.
- An hourly fee. Useful for a one-time second opinion.
- Commissions. Paid by a product provider when you buy something, such as an insurance product or annuity, which can create an incentive to recommend that product.
- A combination. Many firms use more than one method.
No method is automatically better. Each carries conflicts, and a fiduciary RIA is expected to disclose them and manage them in your favor.
How we are paid
Renaud & Company Registered Investment Advisors is a fiduciary RIA. Most of our advice is provided for a fee. Some of our advisors may also earn commissions on certain insurance products, and we explain how we are paid before you decide on anything. Our Form ADV Part 2A has the details.
Six questions to ask any advisor near St. Louis
- Are you acting as a fiduciary every time you advise me?
- How are you paid, from every source?
- What conflicts of interest do you have, and how do you handle them?
- Can I read your Form ADV Part 2A and Form CRS before we meet again?
- Is my money held by an independent custodian in my own name?
- What does your regulatory record show?
Where to check
You can look up an adviser or firm for free at adviserinfo.sec.gov, on FINRA BrokerCheck, and with the Missouri Securities Division.
Frequently asked questions
Is a registered investment adviser always a fiduciary?
A registered investment adviser owes a fiduciary duty when giving investment advice. That duty does not remove conflicts of interest, which is why the adviser must disclose how it is paid in Form ADV Part 2A.
Can a fiduciary RIA still earn commissions?
An RIA or its advisors may earn commissions on certain products, such as insurance, if the conflict is disclosed and the recommendation is in the client’s best interest. Read the compensation section of Form ADV Part 2A.
What should I bring to a first meeting with an advisor?
Bring recent account statements, your last tax return, any pension or Social Security estimates, and a list of questions. A good first meeting should leave you with a clear yes, no, or not yet.
Questions about your own situation? Meet with Renaud & Company Registered Investment Advisors virtually from anywhere, or in person at 2112 Bryan Valley Commercial Drive, O'Fallon, MO 63366. Call (636) 240-5055 or email info@renaudco.com.
Educational purposes only. This article is general information, not individualized investment, tax, or legal advice. Rules and figures are as of October 2026 and can change; confirm them before acting. Renaud & Company, LLC is an SEC-registered investment adviser; registration does not imply a certain level of skill or training. Neither Renaud & Company, LLC nor its advisors provide tax or legal advice. Renaud Tax & Accounting LLC is a separate firm with separate engagements and fees. Some of our advisors may earn commissions on certain insurance products; we explain how we are paid before you decide. Our Form ADV Part 2A and Form CRS are available at adviserinfo.sec.gov or on request. All investing involves risk, including loss of principal.