These advisors are held to a fiduciary standard...is yours?
"When we talk to clients about what it means to have a fiduciary relationship with them, they are
very surprised that any professional advisor would
practice at a lower standard.”
Charlie Haines, CFP®
“Being a fiduciary means being able to sit across the
table from clients, look them in the eye, and say that
I work for them and only them -- all of the time.”
Cheryl A. Costa, CFP®
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What makes members of NAPFA different from most other financial advisors?
One of the critical differences is that NAPFA members serve their clients in a fiduciary capacity.
A fiduciary standard means that your financial advisor is putting your interests first. When you hire a NAPFA member, you are getting the best advice that he or she can give, without any influence from outside interests.
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Read about new rules altering brokerage relationships
Following a fiduciary standard is entirely different than how most so-called “financial advisors” work today. More than 90 percent of financial advisors are paid (fully or partially) by commissions; this means that they have incentives to promote products and services that maximize their income.
Also, these other advisors often work for large financial services firms, known as Broker-Dealers. The loyalty of these advisors is to their employer, not their client.