The difference between working with a fiduciary advisor or not comes down to this. Suppose you are considering two financial products, most financial advisors could recommend to you the one that pays them a higher commission — even if it is not the better one for you. However, a fiduciary advisor would have to recommend the one that is best and disclose any potential conflicts of interest.
There are 310,000 financial advisors in the US
Less than 10% of advisors are required to follow the fiduciary standard — a rule that legally requires financial advisors to act in your best interest.
Approximately 31,000 Advisors Act as Fiduciaries
Not all fiduciary advisors are equal. Many of the financial advisors that are fiduciaries are dually registered or “fee-based” — meaning they can act as both a broker and a fiduciary. Legally, they don’t have to tell you of their dual status or whether they’re acting as a fiduciary or a broker when working with you.
5,000 Fiduciary Fee-Only Advisors
The good news is you've found Runnymede. We are among the firms and individuals that are “fee-only” — a registered fiduciary — who keep you on track and don’t prioritize our own needs over yours.