Many investors unknowingly get financial guidance from an adviser who, while knowledgeable, may only represent a specific firm and its proprietary financial products.
That adviser may also be getting paid an undisclosed commission to sell that specific firm’s proprietary products, which may not be the best products available for you.
Unfortunately, these non-fiduciary advisers are often placed in the challenging position of serving their clients while also achieving the goals of their company.
This means that there is an inherent conflict of interest for this adviser.
These advisers are required to offer “suitable and appropriate” products but “suitable and appropriate” is quite broadly-defined…this is called a broker’s representative suitability standard. However, they are usually not legally-bound to do what is in the best interests of each client.
The suitability standard opens the door to conflicts of interest, which may not be disclosed to the client.
The bottom line is that the non-fiduciary adviser’s primary loyalty is usually to his or her company, not to you, the client.
As an Investment Adviser Representative (IAR), I am legally required to put your interests first. I am YOUR Fiduciary.
I take your financial well-being and our relationship very seriously.
When you work with me, your peace-of-mind is my number one goal.