I'm on this page quite a bit, and am constantly seeing people ask what questions they should ask an advisor when it comes to managing their money. The FIRST thing you should ask is if they are a fiduciary.
Yes, "fiduciary" is a weird word, so what does it mean? It means that if in fact and advisor IS a fiduciary, that they, by law, are required to always work in your best interest...yes, always. Remember, not all financial advisors are created equal, as seen here: http://ift.tt/2o5pX5k
In fact, a lot of "advisors" are glorified sales people not working to help you as best as they can. While this is completely legal, just know it may not be what's best for your financial needs.
If an advisor is NOT a fiduciary, do not use them. That gives them carte blanche to pad their own pockets with higher fees, poor investment options, and commissions, which are simply a thing of the past. Again, this is absolutely legal, it just may not help you to best meet your goals and needs.
Submitted April 12, 2017 at 02:20PM by j_bags42 http://ift.tt/2p9ipfL
