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Fiduciary

We are Fiduciaries! But what does that Mean?

 

In legal terms, a fiduciary is an individual or organization that has taken on the responsibility of acting on behalf of another person or entity with utmost honesty and integrity. For example, bankers, attorneys and officers of public companies are all fiduciaries, meaning they must act in the best interest of their customers, clients or shareholders. If they don’t, they are legally liable. Similarly in the investment world, fiduciary financial advisors manage client assets with the clients’ best financial interests in mind. Therefore, be sure to limit your search for a financial advisor to only 

What is a Fiduciary?

The term “fiduciary” is a good word to hear when you’re searching for a financial advisor. An advisor that calls themselves a fiduciary seeks to minimize conflicts of interest, be transparent and live up to the trust placed in them. Fiduciary financial advisors must:

·     Having a reasonable, independent basis for investment advice.

·     Providing only investment advice that is suitable to each individual client’s needs, goals    and objectives and personal circumstances.

·     Exercising reasonable care to avoid misleading clients.

·     Being loyal to the client and acting in good faith.

·      Making full and fair disclosure to the client of all material facts and when a conflict of interest or potential conflict of interest exists.

 
 
 
 

Advisory services offered through Karstens Wealth. Karstens Wealth LLC and Karstens Financial LLC are  independently operated.

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