A fiduciary is someone who is legally required to act in the best interests of their customer. This means that your financial well-being is the number one priority for a financial advisor who is a fiduciary.
Some—but certainly not all or even most—financial advisors are fiduciaries.
Finding out whether a financial advisor does act as a fiduciary is simple—just ask.
While fiduciary obligation is not necessarily a silver bullet that will ensure perfection, it is one of the most important aspects of financial advisor selection.
Ask the question and always be aware of whether information is being provided by a fiduciary—it is very important.
Glossary:
- Log in to post comments
