Fiduciary Services

Prior to working with us, our clients sign a Financial Planning Engagement contract, which defines our scope of services and establishes our professional relationship as a fiduciary from the beginning.

What is a fiduciary?

Your fiduciary is an agent who is legally required to serve in your best interests. One of the most common fiduciary roles is that of trustee. When our advisors serve in this capacity, our fiduciary duty obligates us to make prudent and ethical decisions about your trust assets that procure the most favorable outcome for you. Over the past few years, the Department of Labor has released a revised fiduciary rule. As of this writing, the rule has been delayed and is forecast to take effect July 1, 2019. When the transition occurs, fiduciaries will remain accountable for their impartial duties. However, the classification of fiduciary will then extend to advisors providing retirement planning services, which means expanded application of our fiduciary duties.

How does a relationship with a fiduciary benefit me?

Your relationship with a fiduciary allows the fiduciary to comprehensively understand your unique assets and financial goals will shape the options and actions related to your asset management. When you work closely with a trusted fiduciary, your best interests are held in the highest regard under law. If forthcoming tax legislation could negatively impact your trust assets, it would be your fiduciary’s duty to act in a way to minimize or prevent tax consequences. In this situation, the fiduciary might change the tax situs of the trust to a jurisdiction with more favorable tax regulations.