In this episode, we dive into the often-misunderstood world of financial advisors, and the distinction between fiduciary and non-fiduciary advisors. In this eye-opening presentation, we will help you to understand the very important differences between these two groups, and why recognizing those differences is so very important to you.

We will provide you with the details that differentiate fiduciary advisors from their broker-dealer counterparts and their standards of care. For example, broker-dealer advisors are held to the standard of "Suitability". Most people think they know what suitability means, but they really do not. In this podcast, we will explain suitability in detail, and you will likely be very surprised with what you will learn. Fiduciaries are held to the standard of "Best Interest". That is a legal term that requires a fiduciary to give advice that is always in their client's best interest.

We will also explain how some advisors operate both as a fiduciary and a non-fiduciary advisor, and why that type of arrangement is potentially very problematic to you. By the end of the episode, you'll have a clear understanding of all these relationships and how to pick the right advisor.

Topics Discussed:

- Definition of a fiduciary

- Numbers of fiduciaries vs. broker-dealers

- Responsibilities of broker-dealers

- Standards of care for fiduciaries and broker-dealers

- Dual-licensed advisors

- How to identify fully independent fiduciary investment advisors

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0006. What Is A Fiduciary?

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