Financial Planning Is My Financial Advisor a Fiduciary?

Financial planning is complicated. Developing an investment strategy, creating an estate plan, ensuring proper risk management, and even many everyday personal finance matters may require the help of a good financial advisor. But is your financial advisor a “fiduciary”? And what exactly does “fiduciary” mean?

A fiduciary financial advisor must recommend the best investment solutions for their clients. A higher standard applies to a fiduciary advisor.

What is a Fiduciary Financial Advisor?

Certified Financial Planners (CFP) are Fiduciaries

Upon earning the Certified Financial Planner designation, each CFP acknowledges they will adhere to the CFP Board’s Code of Ethics and Standards of Conduct and act as a fiduciary when providing financial advice to their clients.

“Fiduciary” Is Still an Unclear Term

Many investors are fooled by generic terms such as “financial advisor” and “senior planner” when seeking an advisor

Choose an Advisor Who Works in Your Best Interests

If your advisor is not working in your best interests, then he or she might attempt to sell you a product that is not the best for your individual situation.

How Do Fiduciary Financial Advisors Mitigate Conflicts of Interest?

How Do Fiduciary Financial Advisors Mitigate Conflicts of Interest?

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