Our Fiduciary Commitment to YOU

Many have heard that they should work with a fiduciary, but wonder what this means. A fiduciary is a person or organization that acts on behalf of someone by putting that person’s interests ahead of their own, with a duty to preserve good faith and trust. This means that a fiduciary is bound both legally and ethically to act in one’s best interests.

Fiduciary financial advisors commonly work for Registered Investment Advisors (RIAs), as we do here at ARK. Certified Financial Planners (CFPs) are also generally fiduciaries, but it is important to do your homework to ensure a CFP is acting as a fiduciary. Financial advisors who work for brokerage firms generally are not fiduciaries. They are still, however, held to a legal standard of care called the suitability standard. These non-fiduciary advisors must offer investment advice and product recommendations that are suitable for you. This means that the products generally fit your needs but may have higher fees or offer the advisor a bigger commission.

Ultimately, a fiduciary requirement provides that one must have the highest standard for client service, investment advice and planning. At ARK, we have always followed this fiduciary commitment for our clients. We know that the ability to offer ethical advice free from conflicts of interests allows us to provide the very best guidance to help clients achieve their goals.

For more information on Fiduciary Advisors:

https://www.investopedia.com/terms/f/fiduciary.asp

https://www.forbes.com/advisor/investing/what-is-fiduciary-duty/