What Does It Mean to Act as a Fiduciary?

A fiduciary is a person or entity that takes on the responsibility of acting on someone else’s behalf and does so with the highest level of honesty and integrity. Cornell University Law Dictionary gives us a simpler definition: “A fiduciary duty is the highest standard of care.”

Many professionals give investment advice, such as insurance salespeople, stockbrokers, bankers and financial representatives. However, only Investment Advisor Representatives (IAR) carry the fiduciary duty to serve their clients’ needs above all else 100% of the time.

When you become a client at Dodds Wealth, you can be confident you are being served by fiduciary financial advisors who want what is best for you.

Benefits of Choosing a Trusted Fiduciary Financial Advisor

Financial representatives are required to act in their clients’ best interests. Unfortunately, many people fall prey to poor and sometimes costly advice from representatives who toe the line on what is truly in the client’s best interest.

That’s why it’s so important to choose a reputable fiduciary financial advisor. Here are some of the primary benefits of working with a fiduciary financial advisor:

Fiduciary Financial Advisors Must Serve Your Best Interests

A fiduciary financial advisor must act honestly and in good faith, even if it means they earn less from an investment recommendation.

Offer Disclosures and Transparency

Fiduciary financial advisors must disclose all information about an investment that an investor reasonably should know. Failure to operate transparently may result in serious regulatory penalties.

Disclose all Conflicts of Interest

Fiduciary financial advisors must disclose potential conflicts of interest to you, in which case, you may decide to avoid or limit your investment.

Can Invest for You

Some people don’t have the time to follow the market closely and they may choose to allow their advisor more flexibility to manage their portfolio for them. It’s not for everyone, but if you choose this option, you can trust a fiduciary wealth advisor to serve your best interests.

Offer Flexibility

Sometimes life throws you a curveball and your portfolio needs to be able to adjust accordingly. The experienced advisors at Dodds Wealth can help you navigate major life events while staying on track to reach your long-term goals.

The Bottom Line

Simply put, working with an experienced fiduciary financial advisor can help provide you with confidence regarding your investments.

Please contact us and let us show you how we can help you work towards both your immediate and long-term goals, whether it’s financial planning, wealth management, or estate planning strategies. We’ll provide assurance that we are looking out for your best interests, not just because we are morally bound, but because it’s the right thing to do.

Contact Fiduciary Financial Advisors in Denver & Colorado Springs, CO

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¹ A fiduciary financial advisor has a fiduciary duty to their clients when they enter into an advisory relationship. When offering brokerage account types, the representative has a general obligation to act in the best interest of the client.