What you need to know to protect yourself.
What is a Fiduciary?
A fiduciary is a trusted professional that is required by law to put your best interests first, always. On the contrary, a “non-fiduciary” representative can recommend investments and services with higher fees, riskier features, and lower returns simply because they earn more money, even if those investments are not the best choice for their clients.
Who is a Fiduciary?
✔ Registered Investment Advisors (RIAs), like The Prudent Planner, LLC
✔ CPAs delivering personal financial planning
✔ Certified Financial Planner™ (CFP®) professional (Most likely, but not always)
✔ Anyone providing regular investment advice to an ERISA covered 401(k) plan
✔ Wealth Manager, Financial Planner, Financial Advisor (Maybe, but often not)
Who is Not?
Insurance / Annuity Salespeople, Stockbroker, Call Center Employee, Mortgage Broker
Is your financial representative a fiduciary? Ask them.