Fiduciary Standards

The Importance of a Fiduciary

In light of recent changes in the financial services industry, many consumers are wondering if their financial advisor is a fiduciary. All of our advisors act as fiduciaries over our advisory accounts, which is a unique advantage in our industry and allows us to put the client’s needs first at all times.

What is Fiduciary Duty?

The fiduciary duty requires an advisor to act in the best interest of their clients and to put the clients’ needs above their own without exception. Fiduciaries must act with loyalty and care by providing upfront disclosures to the client and eliminating all conflicts of interest.

Brokers Versus Fiduciaries

In contrast, a broker is any person engaged in the business of executing transactions for the account of others. Brokers are generally not considered to have a fiduciary duty to the client. Instead of being obligated to put their clients’ interests ahead of their own, brokers are only expected to deal fairly with their clients and provide suitable options.

Seeking out an investment advisor who will act as your fiduciary can help eliminate many of the problems associated with working with an advisor who is solely concerned with commissions and making sales. With fiduciary duties, we serve our clients first, last and always.