Which of These Statements Most Accurately Describes Both an Unregistered

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

A) Both are interested and willing to work with relatively low net worth investors; only the registered advisor is overseen by the SEC.
B) Both charge fees to manage funds; only a registered investment advisor is legally obligated to put his investors' interests ahead of his own.
C) Registered investment advisors tend to charge lower fees; unregistered financial advisors charge higher fees but take on more clients.
D) Registered investment advisors and unregistered financial advisors most often charge an annual fee.