Understanding of what a fiduciary financial advisor is.
A new client meeting five or ten years ago looked like this. I’d be so excited to share with them that I was a fiduciary. I’d explain that I was a Fiduciary and I would be legally and ethically required to put their interests first. I would explain that not all financial advisors are fiduciaries. I would then sit back and wait for them to have an epiphany that working with a fiduciary financial advisor was superior to working with a non-fiduciary. Often though, the aha moment never came. My enthusiasm for all things fiduciary usually fell flat. Why?
Ten years ago, and even just five years ago, most people had never heard of “fiduciary financial advisor”. They assumed (I would have also if I wasn’t in the field!) that all financial advisors would, of course, have to provide financial advice that was in the best interest of the client. There wasn’t enough public education or discussion about how the industry really worked, so I think sometimes prospective clients were skeptical of what I was saying. I could see it in their faces – “Am I to believe that I can hire an advisor and that they can give me advice that is not in my best interests?”
Fast forward to today and everything has changed. Now, often one of the first questions I get from a prospective client is if I am a fiduciary. It is amazing! The public has a much greater understanding of what a fiduciary is and why it makes sense to work with an advisor that is required to put their interests first and foremost. The days of touting the benefits of working with a fiduciary and getting a blank stare back are gone. However, there is still work to be done.
We are Fiduciary financial planners. No exceptions.
As a Fiduciary, I am a full-time fiduciary. This means the retirement and financial advice I provide has to be in your best interest – no exceptions. When you work with a Fiduciary, you never have to worry that the financial advice you are getting is tainted and designed to benefit the advisor. A Fiduciary is a partner that will help you make the decisions that are best for you.
Please download our fiduciary oath, and learn more about our firm. Feel free to contact us with any questions.
About the Independent Financial Advisor
Robert Pagliarini, PhD, CFP® has helped clients across the United States manage, grow, and preserve their wealth for nearly three decades. His goal is to provide comprehensive financial, investment, and tax advice in a way that is honest and ethical. In addition, he is a CFP® Board Ambassador, one of only 50 in the country, and a fiduciary. In his spare time, he writes personal finance books. With decades of experience as a financial advisor, the media often calls on him for his expertise. Contact Robert today to learn more about his financial planning services.
