Q: When a firm advertises on their website that they act in the capacity of a fiduciary, the client investors do not need to request this commitment in writing. Answer: False. This is a controversial topic, and swings with the political climate, unfortunately. Investors owe it to themselves to be versed on what this means for them. This is personal, and it influences each and every recommendation you’ll get from your financial planner. If your planner tells you that s/he is a fiduciary, ask them: 1) Put it in writing, and; 2) is this the case for all of the products you sell? Fiduciary Duty has become a political football, so we’re all forced to keep abreast of recent changes for various financial service professionals regarding this ever-changing ruling.
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