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The Fiduciary Standard

The concept of acting as a "Fiduciary" basically means putting the interests of the client before the interests of the financial advisor or planner.   This standard is met at FPNW as I do not receive any compensation from outside parties in any way. The following section from Investopedia provides additional background on the Fiduciary Standard. This standard differs from the "Suitability" standard under which broker/dealers are not required to put the client's interest above their own.   

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What Is a Fiduciary?

A fiduciary is a person or organization that acts on behalf of another person or persons, putting their clients’ interests ahead of their own, with a duty to preserve good faith and trust. Being a fiduciary thus requires being bound both legally and ethically to act in the other’s best interests.

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A fiduciary may be responsible for the general well-being of another (e.g., a child’s legal guardian), but the task often involves finances—for example, managing the assets of another person or a group of people. Money managers, financial advisors, bankers, insurance agents, accountants, executors, board members, and corporate officers all have fiduciary responsibility. 

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Links to articles about the Fiduciary standard:

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