Are all financial advisors fiduciaries?

Question

Right now, I have spoken with two financial professionals who both say they act in my best interest, but they are paid differently and offer different products. Right now, one uses the word fiduciary frequently, while the other emphasizes licenses and experience. The part I am trying to resolve is what fiduciary duty really means and how conflicts should be evaluated.

Soradin · Accepted Answer

Different professionals and activities can be governed by different standards, so the answer depends on the service and registration. Within the broader financial plan, a fiduciary is expected to act in the client's best interest within the scope of the relationship, but titles alone can be confusing. Before moving assets to a professional, read Form CRS and any other required disclosures, then verify the person's registration, and compare the relationship's total dollar cost and conflicts.

Are all financial advisors fiduciaries?

Soradin

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