The “Big Three” Financial Adviser Credentials

We typically put a high amount of trust in our doctors for our personal healthcare needs.  An M.D. is a certified medical doctor, who has gone through years of intense study in his/her field, adheres to a code of ethics and owes a fiduciary duty to patients.  Yet, when it comes to personal finance and people’s life savings, consumers are often either tricked or remiss when it comes to hiring an adviser that adheres to a similar standard of care. 

Doing Due Diligence on Your Financial Advisor Part III: Finding Right-Fitting Advice

In the previous two pieces in our series, “Doing Due Diligence on Your Financial Advisor,” we offered some ideas on how to check out an adviser’s background, and why we would suggest that the first hurdle to overcome when selecting an adviser is to ensure his or her advice is of the highest, fiduciary standard.

Doing Due Diligence on Your Financial Advisor Part II: First There Is Fiduciary

In the medical profession, physicians practice according to a familiar standard: “First do no harm.” There should be a similar level of commitment for anyone who wants to advise you about your financial well-being, right? Unfortunately, wrong. Financial advice is subject to a double legal standard: “fiduciary” versus “suitable”advice.