What does fiduciary financial advisor mean?

Question

For context, 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. For context, one uses the word fiduciary frequently, while the other emphasizes licenses and experience. Most of what I have found online is written as a basic example, but they seem to assume facts that are different from mine.

Soradin · Accepted Answer

It generally describes an advisor with a duty to put the client's interests ahead of the advisor's own interests. For the household 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 signing an advisory agreement, read Form CRS and any other required disclosures, then verify the person's registration, and compare the relationship's total dollar cost and conflicts.

What does fiduciary financial advisor mean?

Soradin

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