What is a Fiduciary Financial Advisor?
Fiduciary responsibility is one of ethical, legal, and financial duty to—and only to—you, the client.
There are many positions that preclude a fiduciary duty, including, but not limited to:
- Bankers
- Trustees
- Accountants
- Executors
- Board Members
- Corporate Officers
What separates a fiduciary from other financial advisories/consultant positions is that they are legally bound to put their client’s best interests ahead of their own. This is the same for fiduciaries across disciplines, whether they are trustees and corporate officers, board members and shareholders, executors and legatees, investors and clients, and so on.
More than anything, if you’re looking for a sound fiduciary to help with your financial planning, look for those who act in the best interests of their principals and values. Fiduciary responsibility is one of ethical, legal, and financial duty to, and only to, you, the client. A few qualities and questions to look/ask for in a good fiduciary can include:
- Regulatory and/or disciplinary history
- Previous experience and client satisfaction
- Level of knowledge and/or expertise
- Personal or professional affiliations or relationships
- Compensation structure
What are Midwestern Financial Group Advisors like?
At Midwestern Financial Group (MFG), our stated goal is to provide sound investment and financial analysis coupled with a fiduciary standard of care.
At any part of the financial planning process, we aren’t looking to sell you anything, we’re not trying to make a commission, and we’re not thinking about how to net ourselves the biggest return on the backend at your expense.
We’re thinking about you. About your retirement. About your college savings plan. About your business. Our mission is to help you protect those things, and grow them into something worthwhile. Across all levels of our financial planning relationship with you, we exercise a fiduciary duty to make sure that you’re getting the individual financial care you need.
Midwestern Financial Group: Fiduciary Duty and Your Interests
MFG is a fee-only financial planning firm offering investment and financial analysis with a fiduciary standard of care. This means we don’t sell any products, we don’t take commissions. Our firm provides unbiased, goal-driven financial services for individuals, families, and businesses to build their financial future with confidence.
From investment and asset management to the creation of a college savings plan, and everything in-between, our professional financial advisors can help a wide range of clients to fulfill your financial goals.
