A Fiduciary versus an Investment Advisor

In this month’s Wealth Management Minute, Taylor Ranker explains why Fee-Based Investment Advisors may be more suitable to your long term financial goals than Commission Based Advisor relationships.

Ask yourself the following questions when reviewing your Wealth Management Advisor relationship:

  • Does he or she plan to meet or speak with you regularly?
  • Will there be routine checkups, or does he or she plan to contact you only when something bad is occurring?
  • How often will your portfolio be revisited?
  • Does he or she exhibit a strong willingness to understand what goals you have set out, and has he or she thoroughly explained the intended approach to reaching these goals?

Your choice of Wealth Management Advisor will serve you best when you have a clear understanding of your needs and goals. Does your planner offer tax advice, and what type of investment strategy does he/she have? Would your planner handle all of your investment accounts or only your retirement account? Make a list of exactly what you need from a financial professional, and then determine whether he or she offers you the appropriate services for the price you would be paying.


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