Fee-Only Retirement Planning, Financial Planning & Investment Management

Fiduciary Role

Michael maintains a fiduciary relationship with his clients and makes decisions concerning them based on their best interests.  Generally, most brokers, investment managers and financial advisor firms do not hold such a fiduciary relationship with their clients.  Whomever you choose to assist you with your financial matters, ask them if they are a fiduciary to you and will act in your best interests.

The Board of Directors, Representatives, and Financial Advisors comprising NAPFA have adopted the following definition of Fiduciary:

Fiduciary

A financial advisor held to a Fiduciary Standard occupies a position of special trust and confidence when working with a client. As a Fiduciary, the financial advisor is required to act with undivided loyalty to the client. This includes disclosure of how the financial advisor is to be compensated and any corresponding conflicts of interest.

NAPFA believes advisors must receive compensation only from their clients, must disclose any possible conflicts of interest, and must be loyal to the best interests of their clients.

Compensation

NAPFA members are compensated solely by their clients, and do not receive any outside inducements for recommending investments or financial products.  This is the true definition of being a “Fee-Only Advisor.”

Loyalty

An advisor who is loyal to only his or her clients will not be swayed by outside forces to recommend investments with higher commissions or payouts.

Disclosure

People must understand how their financial advisor is being compensated and whether or not any potential conflicts may impede an advisor’s ability to provide truly independent advice.  Disclosure must be made before a client works with an advisor or implements any of his or her advice.

See Fiduciary Oath.