Does my Financial Advisor put my interests first?

gavel scales law book

Learn if your financial advisor is working FOR YOU.

  • My advisor acknowledges that she/he is a fiduciary financial advisor at all times.
  • My advisor puts our agreement and lists her/his services in writing.
  • My advisor makes recommendations based on an investment plan crafted after carefully reviewing my financial situation, personal circumstances and my goals.
  • My advisor does not recommend principal trades or proprietary products – unless I ask him / her to.
  • My advisor seeks to avoid conflicts and has put in writing and explained to me the impact of any unavoidable conflicts.
  • Each year my advisor gives me a written accounting of ALL the fees and expenses involved in my transactions with her/him or, at least, will provide a good faith estimate of all fees and expenses on request.
How did your advisor measure up? These are all reasonable requests and really good advisors agree that it’s just what they do. You should expect your advisor to do them all. If not or you don’t know the answers to any of these six questions, speak with your advisor and say what you expect. To better understand your rights, see the Investor Bill of Rights.

“A low-cost adviser can make you thousands of dollars richer with well-chosen investments while saving you a fortune in unnecessary fees, excessive taxes or reckless risks you might otherwise incur.”

Jason Zweig, June 3, 2016
The Wall Street Journal
John Oliver: Retirement Plans