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100% of the advisors who are profiled in the Registry are acknowledged fiduciaries. Their acknowledgement is provided to you in writing on their professional profiles.
What's a Fiduciary?
The dictionary says a fiduciary is "a person standing in a special relationship of trust, confidence, or responsibility to another". Trust and responsibility certainly apply to your relationship with your advisor. The quality of his or her advice and services will impact your standard of living during retirement and your financial security late in life when you need it the most.
Whose Financial Interests Come First?
Fiduciary advisors are required to put your need to achieve financial goals ahead of their need to produce personal income. Non-fiduciary advisors have different priorities. For example, sales representatives are supposed to make suitable recommendations with no concrete definition or standard for what's suitable.
Higher Ethical Standards
Fiduciary advisors are held to the highest ethical standards in the financial services industry.
Compensation Method
Fiduciary advisors are compensated with fees like other professionals (CPA, attorney) you depend on for specialized knowledge and services. Non-fiduciary advisors are compensated with commissions to sell you products.
Acknowledged Fiduciaries
When you select a financial professional to help you achieve your goals always ask if they are a financial fiduciary. If they say "yes" ask for their acknowledgent in writing. If the say "no" or refuse to confirm their fiduciary status in writing, you should exclude them from your selection process.
Have a question? Contact us at info@paladinregistry.com or call 916.253.3334. |
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