Advisor Responsibilities at First Choice Financial Planning
What Is a Fiduciary?
A fiduciary is a person or organization legally and ethically bound to act in the best interests of another party—in this case, the client. In financial planning, a fiduciary advisor must:
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Put the client’s interests first—above their own or their firm’s.
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Avoid conflicts of interest, and if any exist, fully disclose them.
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Provide objective, well-informed advice based on the client’s unique financial situation.
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Act with loyalty, care, and diligence, ensuring all recommendations are made with integrity.
At First Choice Financial Planning, our advisors are committed to upholding the fiduciary standard. This means:
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Client-Centered Advice: Advisors are required to offer guidance that aligns solely with the client’s financial goals, not based on commissions or incentives.
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Transparency and Disclosure: Advisors must clearly explain all fees, compensation structures, and any potential conflicts of interest.
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Duty of Care: Advisors take the time to understand each client’s full financial picture—goals, risk tolerance, time horizon, and personal values—before making recommendations.
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Ongoing Accountability: Fiduciary responsibility doesn’t end after a recommendation is made. Advisors continuously monitor and adjust strategies to ensure they remain in the client’s best interest.
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Legal and Ethical Compliance: Advisors at First Choice operate under regulatory standards (such as those set by the SEC or CFP Board) that enforce fiduciary duties.