What is a Fiduciary?
Merriam-Webster defines fiduciary this way: “one that holds a fiduciary relation or acts in a fiduciary capacity.” Not all that helpful...
For a word that’s been around since 1631, it sure has done a good job of escaping understanding.
But by consulting another dictionary, one might finally understand what all the hype is about. Dictionary.com defines fiduciary this way: “a person to whom property or power is entrusted for the benefit of another.” That’s better.
Some financial advisors are fiduciaries, obligated by law to act in your best interest as they manage your assets or money. Rather than operating out of self-interest (such as recommending insurance policies or investments in pursuit of fees and commissions), a fiduciary advisor is obligated to make recommendations that benefit you, the customer.
At Women+Wealth Solutions the decision to earn our Certified Financial Planning certification (CFP®) was a direct result of seeking the right to manage our clients’ monies as a fiduciary with a holistic all-encompassing approach.
The benefits of a fiduciary are clear: Americans who enlist fiduciary advisors report increased investment gains and benefit from increased assurance regarding financial decisions. A 2019 Northwestern Mutual study found that U.S. adults who work with a financial advisor report “substantially greater financial security, confidence, and clarity than those who go it alone.”
Yet knowing how to find a reputable fiduciary advisor is, for many, the most confusing task of all. Common Google searches related to the topic reveal a desperate search for direction. “Fiduciary financial advisors near me,” “best fiduciary financial advisor,” and “financial investment advisors near me” are searched for hundreds of times per day.
Finding a fiduciary shouldn’t be that hard. Thankfully, it isn’t; we are right here ready, willing and able to work for you.
Set up a complimentary conversation with us via the link on our contact page at www.womenaws.com
This material is for informational purposes only. Neither APFS nor its Representatives provide tax, legal or accounting advice. To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purposes of avoiding penalties that may be imposed by law. Each tax payer should seek tax, legal or accounting advice from a tax professional based on his/her individual circumstances.
Securities offered through American Portfolios Financial Services, Inc. (APFS) Member FINRA/SIPC. Investment Advisory Services offered through American Portfolios Advisors, Inc.(APA) an SEC Registered Investment Advisor. Women and Wealth Solutions not affiliated with APFS and APA.