We Are Fiduciary

What does that mean to investors and how does that compare to financial institutions that are not Fiduciary?

Fiduciary Duty vs. Suitability Standard

You work hard for your money and you should expect your money to work hard for you. Times have changed because of the great recession. You can no longer blindly trust that Wall Street, the banks and your advisor have your best interests at heart. You deserve better. You deserve a fiduciary. We believe people should only use a fee-only fiduciary advisor: Someone who, By law, must put your interest first. We call this fiduciary responsibility “Legal Loyalty”. Wall Street, banks and other advisors will try to tell you that this is unnecessary. We say, “No Way!” Doing what is right is the foundation of a long term relationship. According to PBS documentary, only 15% of financial advisors are fidiciary. That means 85% do not have a legal loyalty to their clients. Why would investors use a non-fiduciary advisor?…We think it’s because they don’t know the facts. A 2010 survey revealed that 76% of investors believe brokers are a fiduciary; 60% believe insurance sales people are a fiduciary. Both are not! The great news is…at Integrity Investment Advisors, we are one of the 15%. We are a fiduciary. Review the fiduciary oath. You decide.


Fiduciary Oath: Fiduciary Standard of Care.

The advisor shall exercise his/her best efforts to act in good faith and in the best interests of the client. The advisor shall provide written disclosure to the client prior to the engagement of the advisor, and thereafter throughout the term of the engagement, of any conflicts of interest which will or reasonably may compromise the impartiality or independence of the advisor. The advisor, or any party in which the advisor has a financial interest, does not receive any compensation or other remuneration that is contingent on any client’s purchase or sale of a financial product. The advisor does not receive a fee or other compensation from another party based on the referral of a client or the client’s business.

What the Fiduciary Oath means to you – the Client

  • I shall always act in good faith and with candor.
  • I shall always put the Clients best interest first.
  • I shall be proactive in my disclosure of any conflicts of interest that may impact you.
  • We will provide to each client full and fair disclosure of all important facts, including full transparency of how we are paid by the client.
  • I shall not accept any referral fees or compensation that is contingent upon the purchase or sale of a financial product.

FI • DU • CI • AR • Y \DEFINITION\: A person legally appointed and authorized to hold assets in trust for another person. The fiduciary manages the assets for the benefit of the other person, rather than for his or her own profit. (source: Investopedia.com) \USAGE\: A registered investment advisor, who is held to a “fiduciary standard of care”, looks after the assets of another person on that person’s behalf, is fully transparent, and required to disclose any potential conflicts of interest.


Who is a Fiduciary?

Fiduciary responsibility does not arise only in the financial services industry. Professionals in other fields also are legally required to work in your best interest.  Watch this shocking PBS video –

Why You Need a Fee Only Fiduciary Advisor!


Type of Professional Who is a Fiduciary?

Physician
  • Yes, follows the Hippocratic Oath
Lawyer
  • Yes
Stock Broker
  • No
Insurance Agent
  • No
Registered Representative
  • No
Fee Based Advisor
  • No
CFP Practitioner
  • Maybe – could be fee based
Financial Planner
  • Maybe – could be fee based
A Bank Trust Company
  • Yes
Fee-Only Financial Advisor
  • Yes
CFP Practitioner Fee-Only
  • Yes

Fee-Only Compensation

This model minimizes conflicts of interest. A Fee-Only financial advisor charges clients directly for his or her advice and/or ongoing management. No other financial incentive is provided, directly or indirectly, by any other institution. Fee-Only financial advisors do not sell anything.  They add value with their Philosophy, Strategy, Process, Transparency and Ongoing Coaching.  We strongly encourage you to work with a fee-only Advisor.

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