Make sure your financial advisors are working in your best interest when making your investment recommendations. Ask if they operate under the fiduciary standard.
When it comes to managing their wealth, people naturally want to work with an advisor they can trust. After sharing their investment objectives, time horizon and past investing experience with their financial advisor, many people rely on that individual for all their investment guidance moving forward. But how can you be sure if your financial advisor or broker is acting in your best interests or their own? A good place to start is to ask them whether they operate under the fiduciary standard or the suitability standard.