A fiduciary is a person or organization that owes a duty of trust, loyalty, and good faith to another party. In the context of financial services, a fiduciary is typically an investment adviser, financial planner, or other professional who provides financial advice and manages assets on behalf of a client.
As a fiduciary, the professional has a legal obligation to act in the best interests of the client and to prioritize the client’s needs and interests above their own. This means that the fiduciary must disclose any conflicts of interest that may affect their decision-making and must refrain from making any decisions that could be considered self-serving.
The specific services provided by a fiduciary may vary depending on the nature of the relationship and the needs of the client. Some common services provided by fiduciaries include:
- Financial planning: This involves helping clients create a long-term financial plan that takes into account their goals, risk tolerance, and current financial situation.
- Investment advice: This may include recommendations on specific investments or asset allocation strategies, as well as ongoing monitoring and rebalancing of a client’s portfolio.
- Estate planning: This involves helping clients create a plan for the distribution of their assets after they die, including drafting wills, trusts, and other legal documents.
- Tax planning: This involves helping clients minimize their tax liability through strategies such as tax-loss harvesting or charitable giving.
- Insurance planning: This may involve helping clients choose the right types and levels of insurance coverage to protect their assets and provide for their families.
- Retirement planning: This involves helping clients create a plan for saving and investing for retirement, including choosing the right retirement accounts and investments.
Are IntelliVest Financial Advisors Fiduciaries?
Yes, Michael and Logan Dickey are fiduciaries for all of their clients. But what exactly does that mean? A fiduciary is someone who acts and puts their clients interests ahead of their own. Fiduciaries are legally bound to act in this capacity.
At IntelliVest Wealth Management, Michael and Logan take the responsibility of being a Fiduciary seriously to maintain trust with their clients.
Why is a Fiduciary Relationship is Important?
Having your Financial Advisor as a Fiduciary is incredibly important. This is the distinction that can make sure that your advisor is working in your best interest or his/hers.
Please know that not all Financial Advisors are legally fiduciaries and just because they say they will act in your best interest does not mean they are legally bound to do so. Typically speaking large investment companies that take a commission or are listed as a “broker-dealer” are not fiduciaries.
At IntelliVest, we find that a fiduciary relationship is critical to how we do business. We want our clients to feel comfortable with our advisors so they know we are helping to build their financial goals appropriately.
>> Click here to learn more about the importance of having a fiduciary.
Your Local Fiduciary.
Michael and Logan are fiduciaries for all of their clients across multiple different services. These services include:
- Fiduciary for Individual Retirement Accounts (IRAs)
- Fiduciary for Investment Trusts
- Fiduciary for Investment Accounts for individuals and businesses
If you are interested in learning more about IntelliVest Wealth Management, feel free to give us a call or send us an email here!