Broker Check

8 North State Street, Suite 300, Lake Oswego, OR 97034

(253) 313-1992
dustin.marlett@raymondjames.com
Client Access

Why Work With a Fiduciary Financial Advisor?

Nobody wants to navigate the world of finance without a professional in their corner. However choosing the right financial advisor is crucial to pursuing your financial goals. A fiduciary financial advisor operates under a standard that is fundamentally aligned with your best interests. Let’s examine some of the many reasons why working with a fiduciary is beneficial for your financial well-being, starting with what being a fiduciary means.

What is a Fiduciary?

A fiduciary is a financial professional who is ethically bound to act in your best interests. This responsibility, known as fiduciary duty, requires the advisor to prioritize your financial well-being above their own interests or those of any third party. This commitment helps to ensure that any advice and investment recommendations you receive from a fiduciary financial advisor are made with your goals, situation, and preferences at the forefront.

Fiduciary vs. Financial Advisor: Understanding the Difference

Fiduciary vs. Financial Advisor: Understanding the Difference

Not all financial advisors are fiduciaries. Traditional financial advisors may earn commissions based on the products they sell, potentially leading to conflicts of interest. In contrast, fiduciary financial advisors often adopt a fee-based model, meaning their compensation is more transparent and aligned with your success. By choosing a fiduciary, you benefit from unbiased advice and a partnership genuinely focused on your best financial outcomes.

Benefits of Working with a Fiduciary Financial Advisor

  • Trust and Transparency: Knowing your advisor has a legal obligation to act in your best interests helps build trust and facilitates open, honest communication.
  • Tailored Advice: Fiduciaries provide personalized financial planning services that reflect your unique financial situation and aspirations.
  • Comprehensive Management: From retirement planning to investment management, fiduciaries look at your entire financial picture to ensure every piece works together efficiently.
  • Conflict-Free Recommendations: Fiduciaries are required to disclose any potential conflicts of interest, ensuring the advice you receive is unbiased and solely in your favor.
Estate Planning With a Fiduciary

Estate Planning With a Fiduciary

Working with a fiduciary financial advisor offers significant advantages in estate planning. A fiduciary's duty to act in your best interests means they provide unbiased and tailored advice to create a robust estate plan that aligns with your long-term goals and family needs. Whether it's minimizing estate taxes, ensuring the smooth transfer of assets to beneficiaries, or establishing trusts, a fiduciary's expertise ensures that every part of your estate plan is meticulously crafted to provide peace of mind and financial security for your heirs.

Fiduciary Near Me

At State & Shore, we can work with you in a face-to-face setting, or conduct our meetings and business online or via phone or Zoom meetings. That means that no matter where you are, we are “near you.” We believe in upholding the fiduciary responsibility to our clients and we only consider ourselves successful when our clients are too. Please don’t hesitate to reach out with your questions–we relish the opportunity to help as many people as possible achieve their financial goals. 

FAQs About Working with a Fiduciary Financial Advisor

How do fiduciary financial advisors get paid?
Most fiduciary advisors are fee-based, meaning they earn their income through fixed, flat, or percentage-based fees rather than commissions on the sale of products.

How often should I meet with my fiduciary financial advisor?
It's recommended to meet at least annually, or more frequently if your financial situation changes significantly. Regular meetings help ensure that your financial plan stays aligned with your current needs and goals.

Can a fiduciary financial advisor help with tax planning?
Yes, many fiduciaries provide holistic financial planning, which includes strategies to minimize your tax liabilities and enhance your after-tax returns.

Experience the Fiduciary Difference

Experience the Fiduciary Difference

Working with a fiduciary financial advisor helps to ensure that your financial strategy is crafted with only your interests in mind. The transparent, client-first approach of fiduciaries not only aligns with ethical practices but also promotes a relationship built on trust and mutual success. Contact State & Shore Wealth Planning to schedule a complimentary consultation to see how we can help you achieve your financial goals!

This material is being provided for information purposes only and is not a complete description, nor is it a recommendation. The information has been obtained from sources considered to be reliable, but we do not guarantee that the foregoing material is accurate or complete. Raymond James and its advisors do not offer tax or legal advice. You should discuss any tax or legal matters with the appropriate professional.

Have a Question?

Thank you!
Oops!