The Fiduciary Difference

The term “fiduciary” is foreign to some and is beginning to confuse others due to how loosely certain sides of the financial services industry are beginning to use it. Clear and simple, a fiduciary is someone who is in a position that legally requires them to put the interests of someone else ahead of their own. We have heard many people in the financial services industry say they are doing what’s best for their clients, but their investments and employer/employee relationships are full of conflicts of interest, fee stacking, etc.

As a One-Fee Investment Fiduciary, Change Wealth Advisors doesn’t just say we are putting our clients’ interests first, we are legally bound to it, and we passionately live it. Our only source of revenue is paid directly by our clients. We have no conflicts of interest. We are paid no mutual fund residuals. We have no soft-dollar arrangements. We have no back door payments that we receive. We earn no commissions. We have no broker-dealer incentives. We are truly independent so we have no employer placing incentives or revenue targets on us based on what is best for the employer or shareholders. We put our clients’ interests first and do what is best for them, always!

The fiduciary model is the highest standard of care. The majority of the financial services industry operates on what is called “suitability” model, meaning that they are not required to put your interests first. They only have to make the argument that something is suitable for you… a much lower level of responsibility. In short, ask yourself if you want the person handling your financial future to be putting your interests ahead of their own. If the answer is yes, then you want to work with a fiduciary like Change Wealth Advisors. If the answer is no, then we encourage you to continue asking that question until the answer is yes.

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