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Simply put, a fiduciary is a person who is legally required to act in your best interest with your money. Given the compensation structure of most in the financial advisory field, this simple but ...
The fiduciary should keep you informed of any details that would affect your decisions. Duty of confidentiality: You also may not want your financial advisor talking about your business around ...
A fiduciary financial advisor can talk with you about your financial goals, look at the overall picture of your financial life -- age, income, monthly spending, savings rate, risk tolerance, and ...
A fiduciary could be anyone with expertise — such as a lawyer, trustee or financial advisor — who must advise a client on the best way to proceed or otherwise act on their behalf. What is a ...
An IA must adhere to a fiduciary standard of care laid out in the US Investment Advisers Act of 1940.This standard requires IAs to act and serve a client's best interests with the intent to eliminate, or at least to expose, all potential conflicts of interest which might incline an investment adviser—consciously or unconsciously—to render advice which was not in the best interest of the IA ...
Under the Prudent Investor Act standard, a fiduciary would not be held liable for individual investment losses, so long as the investment, at the time of acquisition, is consistent with the overall portfolio objectives of the account. Diversification is explicitly required as a duty for prudent fiduciary investing.