Our Best Interest Commitment To You

You may be aware that the Department of Labor has sponsored new consumer protections for retirement investors to ensure that financial advisors act in a consumer’s best interest.

“While many investors think that their financial adviser already is required to act in their best interest – like their doctor or their lawyer – the law hasn’t always required it,” explained Department of Labor officials in a January 2017 consumer advisory.

Our clients know that our firm is a Registered Investment Advisor (RIA) and already a fiduciary, required by law to put your interests first and foremost.

However, many other firms and advisors are not required to meet these high standards. As a result, retirement investors may have lost up to $17 billion of their savings each year due to conflicted and self-interested advice from non-fiduciary advisors.

Changes in the law are attempting to correct these abuses. As of June 9, 2017, as new Department of Labor rules become effective, your retirement advisors should affirm to you that they are committed to act in your best interest.

Our own affirmation is communicated to you below. Going forward, this affirmation should be considered as an integral part of the client agreement, and part of our commitment to ensure that your interests are always protected.

Adam Financial Associates Affirmation:

The Advisor complies with the Impartial Conduct Standards with regard to investment recommendations related to an IRA rollover from a qualified retirement plan, an IRA rollover from another IRA, or other applicable scenarios.

As such, the Advisor commits to:

  • Give advice that is in the Retirement Investor’s Best Interest (i.e., prudent advice that is based on the investment objectives, risk tolerance, financial circumstances, and needs of the Retirement Investor, without regard to financial or other interests of the Advisor or other parties);
  • Charge no more than reasonable compensation; and
  • Make no misleading statements about investment transactions, compensation, and conflicts of interest.

If you have any questions about the new Department of Labor consumer protection rules, and how they may apply to our relationship, please call our office at any time. We are always happy to assist you.

About Mari Adam

Mari Adam, Certified Financial Planner™ has been helping individuals and families chart their financial futures for over twenty-five years. Have a question about your financial situation? Ask Mari!

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