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Many consumers who hire financial advisors may think that these advisors have the legal, moral, and ethical obligation to put their interests ahead of everything else when it comes to delivering financial and investment advice. I think it would be shocking to a lot of these same people when they learn that the large majority of financial advisors don't abide by that kind of obligation.
Many financial advisors are not considered true fiduciaries. They don't have the requirement to put their client's best interests ahead of there own at all times. This can create tremendous amounts of conflict of interest.\\xa0 This conflict can directly affect the quality and appropriateness of the advice and guidance you receive.\\xa0
So in this episode, Derek walks you through:
- What a true fiduciary financial advisor is
- What standards a broker/financial advisor must uphold
- Examples of a broker relationship and a fiduciary relationship
- How to uncover if a financial advisor is a fiduciary
- What to do if you are not working with a fiduciary advisor
Enjoy the episode!
You can contact Derek on Social Media at:
https://twitter.com/derekjdelaney\\xa0
https://www.linkedin.com/in/derekdelaneypharmdfp/\\xa0
https://www.facebook.com/PharmD-Financial-Planning-LLC-116600423803050
Or by email at:
derek@pharmfp.com