What Is A Fiduciary And Why Should You Care?
There are many individuals who provide financial advice and financial planning services. Unfortunately, while most of these people are well-intentioned in the work they do, they are held to a commitment to put their employers’ interests first at the expense of clients. Their obligation to clients only requires that they offer advice that is suitable, not advice that is in the best interest of the client.
A fiduciary financial planner has a very different duty. As a fiduciary, this financial planner must put clients’ interests first; ahead of the interests of employer, and of self and family. A fiduciary financial planner remains on the side of the client at all times.
Understanding the distinction between financial planners who must act in your best interest and those who do not is a critical component when selecting a professional .