A fiduciary is a professional entrusted to manage assets or wealth while putting the client’s best interest first at all times. Financial advisors who follow a fiduciary standard must disclose any conflict, or potential conflict, to their clients before and during the advisory engagement. Fiduciaries will also adopt a code of ethics and fully disclose how they are compensated.

Who is a Fiduciary

Registered Investment Advisors (RIAs), which is what Modern Wealth is, are held to a fiduciary standard of care. By law, they must act solely in the best interest of their clients. To ensure your advisor or potential advisor follows a fiduciary standard, request to see their ADV (a form filed with the SEC) or ask if they will sign a fiduciary oath.

How To Find A Fiduciary

We are one and have built Modern Wealth always to be one! While many financial professionals profess to have their clients’ best interests at heart, they may still have conflicts that impact their recommendations. The truth is, it’s still important for consumers to ask the right questions and ultimately do what is best for their situation.