Quote Of The Week: Why Your Advisor Should Always Be A Fiduciary

Ask the person managing, or offering to manage, your investments to state in writing that he or she will act as a fiduciary at all times, for retirement and non-retirement accounts. Knowledgeable clients already demand fiduciaries for all their money.

Don’t be blinded by titles like “financial adviser” or “wealth manager.” If they’re not fiduciaries, the advisers can earn commissions on sales, and they’re legally entitled to put your interests last. Even if they are fiduciaries, they still might persuade you (wrongly) that costly investments are in your best interest.

Commissioned advisers are those most likely to push complex products, such as annuities whose sky-high costs dwarf any benefits.

Jane Bryant Quinn, personal finance expert and author, “Managing Your Money Manager,” AARP Bulletin, April 2017

The Takeaway:  Our firm is proud to be a fiduciary and we always put your interests first. Don’t entrust your money to someone who doesn’t deserve your trust. If your advisor is not a fiduciary, it’s time to find another advisor.

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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