Is your advisor a real fiduciary? paid Impact_Partner
There is a lot of talk in the financial industry right now about being a fiduciary, which means an advisor is required to act in their clients’ best interests. You might have even asked your current advisor if they are a fiduciary, and perhaps they have told you they always act in your best interests. First and foremost, ask your financial advisor if they are a fiduciary.fiduciaries. They are not required to act in your best interests.
Some advisors will talk about how long their brokerage company has been in business. They might speak about the decades of experience and their unique process of stock picking. The fact is thatknows where the market is heading next. In 2008, the majority of stocks were down and many investors lost money. Some long-time brokerage firms even went out of business.
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