Is your financial advisor a fiduciary? This is an critical question to ask when choosing a partner. At Trust Point we are a fiduciary, and thus, we are legally obligated to keep our clients’ best interests in mind – but we’ve been acting according to the principles of a fiduciary role, irregardless of legal obligation. This means you can rest assured knowing your long-term prosperity is our highest priority.
Based on your needs, circumstances, and comfort level, you may engage Trust Point in various roles to handle your financial matters – trustee, custodian, agent, or personal representative. We will always act in your best interest and make decisions based on the highest level of fiduciary responsibility.
-John Doe | Minneapolis
-John Doe | Minneapolis
Trust Point offers a better approach to fiduciary management.
As an entirely independent institution with no affiliations or proprietary products to sell, Trust Point is able to offer a better blend of investment opportunities, rather than a limited selection offered by other financial companies. Through a sensible combination of advisory and delegated investment services, we strive to achieve your overall investment objectives and grow wealth over time.
Not all investment professionals are a fiduciary. What this could mean for you and your financial future is that they are not working in your best interest. Trust Point advisors will never try to sell you financial products or advise you to make decisions, just for their own gain or a potential kick back . Because we work on a fee-based model, when you do well, so do we.
The Five Principals of Fiduciary Responsibility
1. Put the client’s best interest first.
This is the “golden rule” of fiduciary duty. A fiduciary must be competent. He or she must never be found to be negligent, deceitful, or self-dealing.
2. Act with prudence; that is with the skill, care, diligence and good judgment of a professional.
Your fiduciary is looked at as the expert in your financial relationship. As such, they must be both competent and loyal. They are the experts and should be trusted to decide on an appropriate course of action.
3. Do not mislead clients; provide conspicuous, full and fair disclosure of all important facts.
As a client, it’s easy to be confused or misled about the duties owed to you by your investment professional. The fiduciary standard should be applied in disclosures, so you have the information you need to establish a relationship of trust.
4. Avoid conflicts of interest.
Fiduciaries avoid conflicts of interest whenever possible. Trust is of utmost importance – if the client questions his fiduciary’s loyalty, the relationship won’t work.
5. Fully disclose and fairly manage.
The fiduciary should remove any impediments to their objectivity. Fees should be 100% disclosed and 100% transparent. At Trust Point, we are willing to put our fiduciary standards in writing. Anyone who asserts to uphold a fiduciary standard should be willing to do the same. It’s as simple as that.
Ready to speak to a certified fiduciary? Get in touch with us today!
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A Professional Fiduciary is a person or institution named in your legal documents to act on your behalf and in your best interest to manage your affairs and carry out your wishes.
Investment advisors registered with the SEC (Security and Exchange Commission) or a state securities regulator are fiduciaries. Fiduciaries are subject to the duty of loyalty and due care with their clients.
These types of financial advisors are normally paid through asset management fees and are expected to act in the best interests of their clients at all times.
An professional fiduciary can offer expert insight to help you identify opportunities to mitigate or balance your risk so you can preserve and grow your wealth, and protect your family in case the worst happens.
To get started, you can fill out a form on our contact page or, reach out one of Trust Point’s dedicated service representatives today at 800-658-9474. We look forward to discussing your financial goals!