What Is a Fiduciary Financial Advisor & Why Is It Important?

What Is a Fiduciary Financial Advisor & Why Is It Important?

Not all financial advisors are held to the same standards. Some are only required to recommend what’s suitable—even if it costs you more.

As a fiduciary, I’m legally and ethically bound to put your best interests first. No hidden fees, no sales pitches—just honest, client-focused advice.

In this short video, I break down why working with a fiduciary matters and how it can make a real difference in your financial future.

Watch now! 

Transcript

Hi, I’m Joe Dowdall, a fee-only certified financial planner at Worth Asset Management. As a fiduciary financial advisor, I understand the high standards this role demands. Today, I’ll explain to you the real value of working with a fiduciary and how it can significantly impact your financial future.

What Is a Fiduciary?

Let’s break down why it’s so important. So what is a fiduciary? A fiduciary financial advisor is legally and ethically bound to put your interests first. That means no hidden fees, no pushing products just to earn a commission, and minimal conflicts of interest.

Transparency and Client-Focused Advice

Only honest, client-focused advice. Fiduciary advisors are required to act with full transparency, giving you the information you need to make smart decisions about your financial future. And that means total trust.

Ongoing Reviews to Align With Your Financial Goals

It also means that their job does not end after that initial meeting. Fiduciaries are required to regularly review your accounts to confirm that your investments align with your financial goals.

Fiduciary vs. Non-Fiduciary Advisors: What’s the Difference?

So let’s talk about the difference between a fiduciary and a non-fiduciary. There are financial professionals whose services do not fall under the fiduciary standard. Many advisors operate under what’s called a suitability standard. That means they only have to recommend products that are suitable for you, even if those products pay them a larger commission or come with extra fees.

The Suitability Standard: What It Means for You

So here’s an example. Let’s say you’re looking for an investment option. A fiduciary is required to recommend what’s right for you, even if that means they earn less in fees. On the other hand, a non-fiduciary can push a product that’s just okay for the situation, but earns them with a larger commission. That doesn’t sit right with me, and I don’t think it should sit right with you either.

Why Choosing a Fiduciary Advisor Matters for Your Future

At the end of the day, why does working with a fiduciary matter? Your money is a manifestation of years of hard work, saving, and dreams of your future. The last thing that I believe you want is an advisor who is not fully committed to prioritizing your finances over their own.

My Commitment as a Fiduciary Financial Advisor

I take my responsibility as a fiduciary financial advisor very seriously. That means I don’t sell products. I provide solutions that work for you and my clients. That’s how it should be.

Get in Touch With a Fiduciary Advisor Today

When you’re ready to work with a financial advisor who always puts your interests first, let’s get in touch. You can call me at 469-423-1989 or email me to joe at worthassetmgmt.com.