Which of these statements most accurately describes both an unregistered financial advisor and a registered investment advisor?

Group of answer choices

Registered investment advisors and unregistered financial advisors most often charge an annual fee.

Both charge fees to manage funds; only a registered investment advisor is legally obligated to put his investors interests ahead of his own.

Both are interested and willing to work with relatively low net worth investors; only the registered advisor is overseen by the SEC.

Registered investment advisors tend to charge lower fees; unregistered financial advisors charge higher fees but take on more clients.