What difference doesbeing a Fiduciary make?
Many people unknowingly get financial guidance from an advisor who, while knowledgeable, may only represent a specific firm and its proprietary financial products. That adviser may also be getting paid an undisclosed commission to sell that specific firm’s products, which may not always be the best products available to you.
Unfortunately, these advisors are often placed in the challenging position of serving their clients while also achieving the goals of their company. This means that there is an inherent conflict of interest. They are required to offer “suitable and appropriate” products but “suitable and appropriate” is quite broadly defined. However, they are usually not legally-bound to do what is in the best interests of each client.
The bottom line is that the non-fiduciary advisor’s primary loyalty is usually to his or her company, not to you, the client. As a Fiduciary, we put your interests first. We are YOUR Fiduciary.