Core Wealth Management is built upon a long-standing commitment to providing our clients with the highest standard of care.
We utilize our team of professionals’ resources, expertise, and collective knowledge to offer comprehensive advice and integrated solutions. Our interests are aligned with those of our clients – our goal is to help our clients determine and achieve their goals as efficiently, effectively, and simply as possible. We pride ourselves on always acting with integrity and as a trusted partner and fiduciary.
A fiduciary standard of care requires that an advisor put the client’s interest above his or her own.
Recommendations are only made once an advisor has completed his or her due diligence and analysis, and all recommendations are in the best interest of the client. Conflicts of interest are disclosed, and the advisor is required to execute and implement recommendations efficiently and cost-effectively. Investment Advisory firms that are regulated by the Investment Advisors Act of 1940 are held to a fiduciary standard.
The fiduciary standard requires advisors tom always act in the best interests of their clients, while the suitability standard requires broker-dealers to act in the client’s best interest but allows for certain conflicts of interest as long as they are disclosed and mitigated. Investment professionals who are held to a suitability standard are regulated under the Securities Exchange Act of 1934 and include agents, stockbrokers, and registered representatives. The advisors are typically compensated by commissions.
If you are working with a professional who is a CFP® certificant, you can be confident that they are acting in your best interest when providing financial planning advice, as the CFP® Board requires adherence to a fiduciary standard. If you are working with an Investment Advisor Representative (IAR), they are also required by law to act as a fiduciary when providing investment advice. CFA Charterholders are bound by a professional code of ethics that emphasizes acting in the client’s best interest, particularly in investment analysis and portfolio management. As an investor, you have options beyond commission-based salespeople. There are fiduciary advisors who put their clients’ interests first, disclose and manage conflicts of interest, and offer cost-effective investment solutions—firms like Core Wealth Management.
