Generally speaking, clients who require financial advice are better served by fiduciaries. Anyone giving advice is acting in a fiduciary capacity. If an advisor is not willing to serve as a fiduciary, a client should be cautious. It may be the result of an advisor not having adequate training, experience, or conviction in his or her recommendations. A fiduciary is clearly obligated to put himself or herself on the side of the client. Their recommendations are made in the best interest of the client, not because there is a potential economic benefit to be gained.
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