Are you ready to hire a fiduciary financial advisor in Minneapolis MN? Financial advisors who operate under the Fiduciary Standard are required by law to act with loyalty to their clients and always put their client’s best interests first. Contrast this with advisors who operate under a Suitability Standard. They are only required to offer suitable financial advice, which may not be in the client’s best interest.
Fiduciary Financial Advisor Minneapolis, MN
As fiduciary advisors, we strive to act with prudence, using skill, care, diligence, and good judgment. We will also provide full disclosure of all important information. We will avoid conflicts of interest and strive to always provide unbiased advice. If there is an unavoidable conflict of interest, we will mange it in your favor. We will always put your best interests first.
How to Tell if Your Advisor is a Fiduciary?
One way to tell if your advisor is a fiduciary financial advisor is through research. Look up the advisor on the SEC (Securities and Exchange Commission) advisor search tool. Check if the advisor is a Registered Investment Advisor (RIA). Registered Investment Advisors have a Form ADV Part2A filing that can be viewed online. Read the disclosures on the advisor’s website. However, some advisors are dually registered and can act as a broker part of the time. This information will be publicly disclosed. If this all sounds confusing, there is an easier way to find a fiduciary advisor. Look for advisors on the National Association of Personal Financial Advisors (NAPFA) website, an association of Fee-Only financial advisors that follow a strict Fiduciary Standard. NAPFA only accepts fiduciary financial advisors who meet its established standards.
