Fiduciary Standard
The Fiduciary Standard
A "Fiduciary" is simply someone who while managing assets has a legal, and ethical obligation, to put investor interests first. This standard has always been at the core of the firms' mission in the following ways:
2. Avoid conflicts of interest. We provide a high level of transparency around any fees or expenses associated with your accounts; so there are never any surprises. We disclose all fees and expenses that we are reasonably aware of on recommendations that are presented.
3. Provide independent and objective guidance. As an independent firm, our allegiance is to you in providing objective, unbiased advice. We provide guidance that is objective, and unencumbered by any potential conflicts of interest.
Understanding the Fiduciary Standard
In financial services, there have traditionally been two types of standards: the suitability standard and the fiduciary standard. The suitability standard is defined as determining whether an investment product or strategy is "suitable" for the investor based on his or her financial objectives and risk comfort level. Many advisors have operated under the suitability standard where the advisor simply determines whether a recommended product or strategy is suitable for the client.
The fiduciary standard is a higher level of responsibility for the advisor. The fiduciary standard goes beyond suitability and requires that any advice on strategies be provided in the best interests of the investor. The fiduciary standard of care requires that the advisor take into consideration whether the fees are reasonable, whether there are any conflicts of interest, and whether the investments are adequately diversified.
Our Commitment to You
We continue to adhere to the fiduciary standard, and we believe this model of clear allegiance to you and transparency is in your best interest. You deserve to have your needs put first and our recommendations should align according to those needs.
