Financial Advisory Terms You Should Know
- Assets Under Management (AUM)
The total market value of client assets managed on a platform or by an advisory firm.
- Advisor Equity Ownership Program
A LaSalle St. program that allows eligible advisors to hold an ownership stake in the firm, aligning long-term success and reinforcing private independence.
- Alternative Investments
Non-traditional investment products such as private equity, real estate, hedge funds, or structured products used to diversify portfolios.
- Account Services
Operational support teams that assist advisors with account setup, asset movement, and service processing.
- Capital Management
LaSalle St.’s investment advisory, asset management, and acquisition arm designed to help advisors scale investment capabilities and transitions.
- Capital Markets
Debt and equity financing services that support investment strategies and complex transactions.
- Clearing & Custody
The back-office infrastructure that processes trades and safely holds client assets. LaSalle St. maintains long-standing custody relationships with Fidelity.
- Compliance
The systems and teams that help advisors meet regulatory requirements from FINRA, the SEC, and state regulators.
- E&O Insurance (Errors & Omissions)
Professional liability coverage that protects advisors and firms from claims related to errors or omissions in professional services.
- ETF (Exchange-Traded Fund)
A pooled investment vehicle that trades like a stock and provides diversified market exposure.
- Fintech (Financial Technology)
Technology that enhances how financial institutions and advisors deliver, manage, and scale financial services.
- FMAX (Fidelity Managed Account Xchange)
A managed account platform that allows advisors to outsource portfolio management while maintaining integrated planning and reporting tools.
- Independent Financial Advisor
An advisor who operates their own practice and partners with firms like LaSalle St. for platform, compliance, and operational support.
- Investment Advisory Representative (IAR)
A licensed professional authorized to provide investment advice on behalf of a registered investment advisor.
- LAMP (LaSalle Advisory Managed Platform)
LaSalle St.’s advisory platform designed for advisors who want transparency, flexibility, and control over portfolio management.
- LSIA (LaSalle St. Investment Advisors)
LaSalle St.’s registered investment advisory firm providing fee-based advisory services since 1989.
- LSIA Portfolio Solutions
LaSalle St.’s turnkey outsourced CIO platform that allows advisors to delegate portfolio-level investment decisions to an internal investment team.
- Managed Accounts
Investment accounts where portfolio decisions are made by professional managers rather than the advisor or client.
- Mutual Fund
A pooled investment product that allows investors to access diversified portfolios managed by professional fund managers.
- OCIO (Outsourced Chief Investment Officer)
A service model where a dedicated investment team manages portfolio strategy and allocation on behalf of advisors or institutions.
- Performance Measurement
Tools that track portfolio results, risk metrics, and benchmark comparisons to support informed client conversations.
- Registered Investment Advisor (RIA)
A firm registered with the SEC or state regulators to provide fee-based investment advice.
- Rebalancing
The process of adjusting portfolio holdings to maintain target asset allocation.
- TOA (Transfer of Assets)
The process of moving client assets from one firm or custodian to another.
- Trading Desk
A team responsible for executing securities transactions on behalf of advisors and their clients.
- Wealth Management
A holistic approach to financial planning that includes investments, retirement, insurance, estate planning, and tax strategy.
- Wealthscape
Fidelity’s advisor platform used for brokerage, account management, and integrated technology workflows.