Financial Advisor Serving McKinney, Plano, Frisco, Allen, And Collin County Explains Fiduciary Duty

the difference between suitability and fiduciary his suitability means that the firm that's rendering you advice is only giving you advice based on what's suitable so as long as you're a stock investor they can recommend you any stock it doesn't have to be the stock that's most likely to go up in value which is your goal as an investor fiduciary means that we have to do what's in your best interest when I recommend you a stock I say go buy Apple stock for example I have to believe that Apple stock is the best stock for you to purchase at this time and so it's a very different level of advice that you're getting when you're working with a fiduciary versus an advisor who's operating under suitability and it's something that I think people need to understand much better before they go out and then make a decision on what advisor to hire hiring a financial advisor is one of the biggest decisions that you can make it's somebody you're gonna be working with over the long term it's somebody that's going to be giving you advice that is gonna change your entire life it's gonna change how your retirement looks and you want to know the motivation for that person if they're just working under suitability they don't have your best interests at heart and so our firm want to be different we wanted to operate under best interests of our client we wanted to care for the people that were working with and that's really the founding vision behind Harmon or Gaussian associates you

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Keywords: fiduciary, financial, investment, advisor, planning, retirement, stocks, registered, licensed, McKinney, Frisco, Allen, Plano, Prosper, Celina, Melissa, Anna, Fairview, Princeton, Collin County

Id: 05vg45LTHBI

Length: 1min 17sec (77 seconds)

Published: Mon Apr 20 2020