The process of choosing a personal financial advisor can be confusing. Stockbrokers, life insurance agents, and investment advisor representatives are often known to the public as “financial advisors.” However, not all financial advisors are fee-only investment advisor representatives.
Fee-only investment advisors are legally required to abide by a fiduciary standard of care in all of their recommendations for all types of accounts. This has important implications for investors, and we believe every investor should understand this issue before hiring a financial advisor. The “Fiduciary Principles” page discusses this issue in more detail.