What is a fiduciary and why should I care?
As a fee-only registered investment advisor, BWFA is a fiduciary. That means we are required to act at all times in your best interests and give unbiased advice, putting you before our firm’s profit incentives. Furthermore we are obligated to disclose potential conflicts of interest. This is the highest standard of care by law. Most of the “Wall Street” firms you know are brokers, not fiduciaries. They are required to make “suitable” recommendations only. It’s like the difference between going to a doctor for medication who has a sworn oath to put patients first, versus going to a pharmaceutical sales rep who might recommend something “suitable” that may not be the most effective, lowest cost, or safest medication for you.
