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  • Writer's picturehooglandaxel

The Future Is Fiduciary

Updated: Mar 20, 2020

The future of financial advice is going to be very different from it’s past. In the past, your financial advisor would also be your broker and salesman. Most places like Charles Schwab, Northwestern Mutual, Edward Jones or others take your money, tell you how to invest it, and hold it for you. They make money both from management fees directly from you as well as from management of the fund, and as many other fees as they can think of.

This has historically led to as much as 5% of your nest egg, yearly, being taken by the managers. That doesn’t leave much return for the individual.

The issue is there is an information asymmetry. The average person does not understand what the “right” investments are and it’s in the best interests of the brokerage houses to keep it that way. The “right” investments, at these places, don’t benefit the individual, the benefit the manager. The future of financial advising is the fiduciary advisor. A fiduciary has the investors best interests in mind, not the advisors. A fiduciary has the legal responsibility to invest your money as if it was their own, in the way that best meets both your return and wealth preservation goals. The average brokerage house has none of those responsibilities. Their sole goal is to give you enough return to leave your money there while taking as much as possible so you leave it with them.

Your first question to your financial advisor should be “Are you a fiduciary?” If they say no, you are not getting the best return possible on your investments due to the money they are taking in increased fees.

I am a fiduciary.

If you are in need of:

Investment advice

Someone who will invest your money as carefully as if it way their’s

Someone who will charge you a transparent, clear price for that advice, which is not hidden under various different fees

Someone who will provide a 1 hour free initial consolation

Contact me via email or phone 715-820-0377

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