A Fiduciary financial advisor is a professional who has a legal and ethical obligation to act in their clients’ best interests. They must prioritize the clients’ interests over their own when providing advice and recommendations. Registered Financial Advisors are regulated by the Securities and Exchange Commission and the US Investment Advisers Act of 1940 which requires that they uphold the Fiduciary Standard. What does this mean to you?
Since fiduciaries are required by law to act in the client’s best interest this compels them to make the effort to understand what your best interests are and act accordingly. Fiduciary advisors are required to disclose any conflicts of interest they may face. Non fiduciary advisors do not have these legal obligations.
Fiduciary advisors are able to assess your financial situation, develop a financial plan, recommend investments, monitor your portfolio and provide ongoing guidance, all based on an understanding of your financial situation and your risk tolerance and investment goals.
Overall, a Fiduciary financial advisor is a valuable resource for anyone who wants to build and maintain a strong financial foundation. They can provide personalized advice and guidance to help you achieve your financial goals and ensure that your investments are aligned with your values and priorities.
Sara-Bay is a Registered Investment Advisory with 30 years of partnering with our neighbors and friends to help them achieve their financial goals. We are proud to be Fiduciaries and wouldn’t have it any other way.
The information in this article is a compilation pulled from a variety of sources. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing.