FIDUCIARY FINANCIAL PLANNING

Fiduciary Financial Advisors who always work in your best interest

So what does it look like when a financial advisor works in your best interest? Let’s break it down.

A fiduciary financial advisor must:

Avoid conflicts of interest
Put their clients’ interests ahead of their own
Only recommend financial products and investments that are a best fit for the client’s needs

In simple terms, all this means that a fiduciary financial advisor cannot sell you products, make recommendations, or provide advice that puts their best interests ahead of yours. (For this reason, many—although not all—fiduciary financial advisors are also fee-only advisors.)

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A fiduciary financial advisor is legally required to work in your best interest.

What Sets the Best Fiduciary Financial Advisors Apart from the Rest?

The best fiduciary financial advisors know that working in your best interest doesn’t just apply to your numbers.

While it’s certainly important to ensure all investment decisions and recommendations are made with your objectives and risk tolerance in mind, your financial future is comprised of so much more than your portfolio.

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“Common sense often makes good law”

(William O. Douglas)

Other Important Considerations

Your risk tolerance—which encompasses more than just your feelings about risk.
Your longevity—based on your health factors and family history.
Your desired lifestyle today—and 30 years in the future.

That’s why our fiduciary financial planning process is relationship-centric. We understand that in addition to making recommendations and decisions that align with your financial goals, they must also be a best fit for your temperament, your personal values, and the realities of your unique life.

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The Fiduciary Financial Planning Difference

Fiduciary financial planning is one of the best ways to ensure you’re not being sold financial products you don’t need.

Instead, you’re receiving recommendations and advice that is specifically tailored to your needs.

When it comes to financial advice, it doesn’t get much better than that.

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FAQs

Got a question? We’re here to help.

How much does a fiduciary cost?

How much a fiduciary costs depends on the professional you’re working with.

In general, most fiduciary financial advisors work on a fee-only basis, which means they only get paid by their clients (as opposed to earning commissions on sales of financial products and investment options).

At Five Pine Wealth Management, we charge a flat annual fee based on your assets under management. Our standard management fee starts at 1.10% and decreases aggressively as the size of the account increases (see our complete fee schedule here).
What should I expect in my first meeting with a fiduciary financial advisor?

When you work with a fiduciary, our main job during the first meeting is to listen to you. We want to learn about your financial goals, your fears, your values, and your priorities. We want to know what questions you have and what you’re looking to accomplish.

It’s only after we’ve gotten to know you—and gotten to know you well—that we can make recommendations and investments that are truly in your best interest.
Is a fiduciary financial advisor worth it?
Many people wonder whether a fiduciary financial advisor is truly worth the money.

If you’re uncertain about how to manage your money, have questions about your financial situation, or aren’t sure how you’ll take care of yourself and your family financially through major life transitions, including:
- Preparing for a child
- Funding your children’s college education
- Transitioning to living on a fixed income
- Preparing for the cost of end-of-life care
- And so many more—life’s transitions are endless (and almost all of them involve your finances!)
—then a fiduciary financial advisor can absolutely be worth it.
How do I know if a financial advisor is a fiduciary?

The easiest way to find out if a financial advisor is a fiduciary is to ask them—most advisors will be upfront about it. And if they say they’re a fiduciary but then go on to breach their fiduciary duty to you, they can get into big legal trouble.

However, you don’t just have to take an advisor’s word for it. You can always verify their fiduciary status on FINRA’s BrokerCheck database, which is a free tool that provides information on the professional backgrounds of brokers, brokerage firms, investment advisor firms, and individual advisors.

Alternatively, you can search for a specific firm’s Form ADV, which the SEC requires all professional investment advisers to submit annually. An investment firm’s Form ADV denotes the firm’s AUM, investment strategy, fee schedules, and service offerings, as well as reveals whether any disciplinary action has been taken against the firm and also. (See our Form ADV at the bottom of this page!)