1 fiduciary

   noun               fi·du·cia·ry             \fə-ˈdü-shə-rē, -ˈdyü-, -shē-ˌer-ē\

  1. one often in a position of authority who obligates himself or herself to act on behalf of another (as in managing money or property) and assumes a duty to act in good faith and with care, candor, and loyalty in fulfilling the obligation.

Fee Only

How to Pick a Financial Advisor

In the Wall Street Journal, Jason Zweig gives great advice on how to pick a financial advisor. Zweig, who writes the Intelligent Investor column, has a different take on how to find a financial advisor.

The Multi-Hat Advisor Trick

We try hard to make a habit of writing our own blog material, yet a fellow fee-only planner from North Carolina, Karen Keatley, wrote a great piece that we would like to share. She talks about a major issue in our industry of customers getting confused between 'fee-only' and 'fee-based' advisors.

Doing Due Diligence on Your Financial Advisor Part II: First There Is Fiduciary

In the medical profession, physicians practice according to a familiar standard: “First do no harm.” There should be a similar level of commitment for anyone who wants to advise you about your financial well-being, right? Unfortunately, wrong.

Doing the Due Diligence on Your Advisor Part 1: How Do You Know?

It’s time to address a challenging subject: In selecting or retaining a financial advisor, how do you know if you’re making a wise choice?

Finding Right-Fitting Advice

The first hurdle to overcome when selecting an advisor is to ensure his or her advice is of the highest, fiduciary standard.  The difference between fiduciary vs. suitable advice is central to finding superior advice: 

Merely suitable advice does not have to be the best advice for you;

Advisor Series: Know Your Broker by the Thing He Sells

        A potential client called recently and asked about our services. He explained that at retirement this year he became a client of a big broker and was interested in a second opinion of the portfolio they sold him. He has good reason for concern.

Advisor Series: Don’t Call Them Advisors

         Reported in Investment News and later picked up by Reuters, Merrill Lynch has asked two advisors who managed about $2.5 billion to leave the firm after they allegedly guided clients to investments outside of the firm. The pair was thought to violate regulatory rules and company rules prohibiting the sale of securities outside of the firm’s own platform.

Fiduciary: The Duty of Care

By Bob Stowe, CFP®

Definition of a fiduciary (from Investopedia):

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1 Source: http://www.merriam-webster.com/dictionary/fiduciary

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