K ELLY W EALTH M ANAGEMENT T HE F IDUCIARY S TANDARD
Brokers vs. Fiduciaries 2
F I · DU · CI · AR · Y ( NOUN ) A fiduciary is an individual in whom another has placed the utmost trust and confidence to manage and protect property or money. The relationship wherein one person has an obligation to act for another’s benefit.” 3
Insurance Salesman, Brokers, Bankers, Accountants…… Financial Advisor? 4
Q UESTIONS TO ASSESS C OMPATIBILITY : • Are you planning based? • What credentials does your team carry? • How experienced are you/your team members? • How do you get paid? • What are your specialties? • How large is your team? 5
S ELF D EFENSE : T RUST BUT ALWAYS VERIFY • Ask whether your investments are regulated or supervised by independent third parties. • Make sure you receive regular statements from independent third-party sources – not just from your financial professional. • If you invest in limited partnerships, real estate, or non-traded securities, verify that the investment manager is audited annually by a reputable independent accounting firm. 6
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