As promised in my most recent blog, New Year, New Tax Code, New Financial Review, I am providing a list of questions to pose when interviewing potential financial advisors. Whether you are trying to determine if your current advisor has your best interests at heart or you are looking to hire your first advisor, you could also refer to the list published by the Department of Labor. However, the following five questions should guide you to a genuine fiduciary advisor. A word of caution: Beware the individual claiming to be a “money manager” touting “assets under management”. These tend to be merely middlemen between you, the client, and another investment advisor who is actually doing the inve
We’ve just stepped over the threshold of a New Year and that, right on the heels of a new tax bill voted into law. With those two facts in mind, there’s never been a more perfect time to make sure your investments on the right track. Having a review by a fiduciary financial advisor could be eye opening, life changing and money saving. For starters, let me clarify the difference between fiduciary and non-fiduciary financial advisors. Fiduciaries are bound by law to avoid conflicts of interest, to operate with full transparency and to always act in the client’s best interest. Non-fiduciary advisors, which include brokers, on the other hand, are not legally bound by any of the standards just me
