What is a Fiduciary?

{2 minutes to read} What is a fiduciary? A fiduciary is a person that is entrusted with financial decisions, whether they be investments or other types of financial responsibilities. An executor of a will, the trustee(s) of a trust, or an investment advisor regarding your investments, are all examples of fiduciaries. At Strategic Wealth Advisor Network (SWAN), we are fiduciaries for our clients’ investments, so when we manage a portfolio for a client, we are entrusted and responsible to act in the client’s best interest.

This differs from someone who is a stockbroker or financial advisor selling a product. That person is not necessarily a fiduciary. To be a fiduciary, one must be licensed, and to be licensed requires passing a test.

I think it’s important when choosing who you’re going to do business with, that you pick somebody who is a fiduciary because they are then responsible to you. They answer to you, the client. The person who owns the account should be diligent in choosing an advisor that is a fiduciary. A registered investment advisor has to be a fiduciary, and that protects your interests. They can’t act in a manner that’s not in the best interest of you, the client.

If you’re interested in learning more about how we can help with your investment planning and your retirement accounts, give us a call. You’ll be glad you did.

 

Registered Representative offering Securities through American Portfolios Financial Services, Inc. (APFS) Member FINRA/SIPC. Investment Advisory Services are offered through G&G Planning Concepts, Inc. which is not affiliated with APFS. Strategic Wealth Advisors Network and Gassman Financial Group are not affiliated with APFS.

Any opinions expressed in this forum are not the opinion or view of American Portfolios Financial Services, Inc. (APFS) or American Portfolios Advisors, Inc.(APA) and have not been reviewed by the firm for completeness or accuracy. These opinions are subject to change at any time without notice. Any comments or postings are provided for informational purposes only and do not constitute an offer or a recommendation to buy or sell securities or other financial instruments. Readers should conduct their own review and exercise judgment before investing. Investments are not guaranteed, involve risk, and may result in a loss of principal. Past performance does not guarantee future results. Investments are not suitable for all types of investors.
This material is for informational purposes only. Neither APFS nor its Representatives provide tax, legal or accounting advice. Please consult your own tax, legal or accounting professional before making any decisions.American Portfolios Financial Services, Inc.(APFS) and American Portfolios Advisors, Inc.(APA) are not affiliated with any other named business entities mentioned.