What does it mean to be a fiduciary?


A fiduciary is someone that has a legal obligation to act in YOUR best interest. (1)

Why Fiduciaries Matter


Fiduciaries are required by law to be unbiased and put the interests of their clients first. They disclose any potential conflicts of interest. Their compensation is not influenced by commissions or sales. Overall, a fiduciary relationship is built on loyalty, honesty, transparency, and most important, TRUST.






Fiduciary Examples



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Lawyers

When you hire a lawyer, they have a fiduciary duty for competence, communication, and confidentiality. Lawyers are legally obligated to provide unbiased advice to help you achieve the best possible outcome. (2)

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Doctors

Doctors have a fiduciary responsibility to provide you unbiased recommendations and advice on medical related matters. Doctors cannot offer medications or procedures that are not in your best interest. (3)

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Investment Advisors

Like lawyers and doctors, investment advisors also operate as a fiduciary when providing you financial advice. This is the opposite of a broker, whose only responsibility is making “suitable” recommendations.

Next time you see a financial advisor, ask the question:

"Are you a fiduciary?"


Find a Fiduciary