What Is a Fiduciary?

You need a financial advisor who has the skills and knowledge to help you plan for your future. But you also need to make sure you can trust them to act in your best interest at all times.    

There are only a small percentage (less than 10% are pure fiduciaries) of financial advisors that actually check both boxes, though.  

So how do you know if you’ve found one? Simple. You look for one word: Fiduciary.

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Analytics Fee Only Investment Advisor Orange County California

We've Taken a Fiduciary Oath

Fiduciary financial advisors provide the absolute highest standard of care in the industry. We act with honesty, integrity, competence and diligence in all the work we do for our clients. We avoid conflicts of interest and fully disclose anything that may impact the ability to be impartial.

And we don’t do this just because we want to. We’re actually legally obligated to act in your best interest -- regardless of how it impacts our compensation. In fact, we’ve taken a fiduciary oath to do so.

What does all of this mean for you? Whether we’re offering financial advice, rebalancing your portfolio or looking for tax breaks, you can rest easy knowing we’re 100% invested in helping you be successful.

Why it's important to choose a Fiduciary Advisor

Imagine for a moment that you’ve hired an interior designer to remodel your home. And you’re excited, because they promise to help you create a living space that will both fit the functional needs of your family and be tastefully decorated around your style preferences.

But, there’s a problem. Your designer isn’t really in it to help you. You don’t know it, but this particular designer has affiliations with multiple furniture companies that give them kickbacks and commissions when they recommend or sell certain furniture products. As a result, your designer pushes these items, rather than hunting around for the best deals or selecting decor that better fits the needs of your home.

Once they’ve recommended and sold you on those products, your designer no longer has an incentive to provide you additional services. So naturally, they decide to sub-contact out to other interior designers to handle the rest of the work, while they focus their attention on peddling the same furniture and decor products to their other prospective clientele. And to add insult to injury, they pass this added contractual expense along to you.

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Statistics Fee Only Financial Planner Irvine California

Now, it’s bad enough to have this happen when you’re working on your home. But imagine what would happen if this person was handling your assets and investments. Scary, right?

And the reality is, it’s extremely common for financial advisors to work like this. Whether they’re simply not a fiduciary or they work under a suitability standard (like broker-dealers do), few are actually required to act in your best interest. They’re in it for themselves, and their loyalty lies with the highest bidder.

That’s why working with a fiduciary is vital. Not only does it guarantee that your money is managed properly, but it also gives you confidence that your financial advisor is always looking out for you.

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