Defining Fiduciary: An Unfamiliar Word with a Lucrative Meaning

The term “fiduciary” is defined as “one who holds a fiduciary relation or acts in a fiduciary capacity.” It’s not exactly the most helpful description.

For a term that has existed since the 1600’s, fiduciary has certainly done a good job of concealing its meaning.

A more helpful definition might be: “someone to whom property or power is entrusted for the benefit of another.”

Now that we can understand.

The most reputable financial advisors are fiduciaries -- professionals sworn to act in your interest while managing your assets or money. In other words, rather than making recommendations in their own self-interest (i.e by pushing products that earn higher commissions, etc., a fiduciary financial advisor is obligated to make recommendations that benefit you.

The advantages of working with a fiduciary are numerous. A Northwestern Mutual study uncovered that American adults who work with a financial advisor reported “substantially greater financial security, confidence, and clarity than those who go it alone.”¹

Given such a clear advantage, shouldn’t all Americans be working with a financial advisor by now? Perhaps. But not just any financial adviser will do. Finding a fiduciary with a reputation for acting in customers’ interest, growing wealth, and advancing their interests takes time and effort.

Google search engine results related to the topic reveal a desperate search for direction. “Best fiduciary financial advisor,” “fiduciary financial advisors near me,” and “financial investment advisors near me” each garner hundreds of searches each day.

We think that selecting a fiduciary shouldn’t require this much work. And now, it doesn’t.

Our free matching tool helps Americans get matched with up to three advisors so that they can compare and decide which advisor is best/right for them. Just answer a few short questions before receiving the names of up to three fiduciary financial advisors that serve your area. After that, the choice is yours.