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What Is an Independent Fiduciary and Why Should I Work With One?

What Is an Independent Fiduciary and Why Should I Work With One?

July 14, 2021

You’ve worked hard for your money and your financial future is too important to take unnecessary risks with. So, when you turn to a professional for help, you want to know that you can trust him or her and that you will be prioritized. Essentially, you want to know that you are not just a number on a balance sheet. 

While there are numerous financial advisors, finding someone who will deal with you honestly and help you achieve your goals can feel impossible. But, there is a way to tell if someone in the financial planning and advisory world is on your side—and that is a financial advisor who is held to the fiduciary standard.

Fiduciary First

At Arrowhead Wealth Advisors, we believe you deserve the best. And, when it comes to your money, a fiduciary is the first person you should look to for help. Here’s why:

  • Fiduciary financial advisors are legally and ethically required to act in their clients’ best interests. This may sound confusing, as many people assume all financial advisors— whether they’re stockbrokers or financial planners—are required to put you first. But that’s not the reality. Only fiduciaries have a duty to be loyal to their clients and ensure they disclose any potential conflicts of interest. Any advice that a fiduciary financial advisor gives is based on the client’s financial situation and investment goals—not the advisor’s ability to make a profit. 
  • A fiduciary financial advisor can’t, for example, suggest you buy a security that will provide a kickback for him/her but not benefit you. Fiduciaries aren’t out to make a commission or sale; their #1 priority is giving you advice that helps you reach your financial goals.

Why Should I Work With an Independent Fiduciary?

By working with an advisor who is bound to the fiduciary standard, you can feel empowered that the investment advice you receive is in your best interest. You have the power to ask questions and demand the highest value for the service that the advisor is providing. Here are some other ways working with an independent fiduciary financial advisor at Arrowhead Wealth Advisors can benefit you:

Personalized Advice

As independent advisors, the guidance we offer our clients is not only objective and unbiased but also tailored to your personal needs. We analyze your complete financial picture, gain an understanding of your life circumstances, dreams, and concerns, and recommend financial strategies and products that fit you. We are not tied to any particular financial company or investment firm and we don’t recommend products to meet quotas. That means, you can count on us to give you access to the best products that meet your needs.  

Fee Transparency

Typically, independent financial advisors operate on a compensation model that is simple and straightforward with no hidden costs. This is important because we are not beholden to recommend products that will benefit us financially in any way.  “How are you compensated?” should be a question everyone asks their financial advisor.  

Ongoing Support

At Arrowhead Wealth Advisors, we get to know you personally and make a point to keep up with any changes in your life situation that could affect your financial plan. Rather than being static, our financial plans grow with you. They are built to fit your life, not the other way around. 

Learn About Our Fiduciary Approach

We at Arrowhead Wealth Advisors are fiduciary advisors who strive to work with the highest integrity. As an independent advisory firm, we recommend strategies to help you work toward your retirement goals without forcing your investments into a one-size-fits-all portfolio. If you’re unsure about your current financial strategies, haven’t reevaluated your investments in several years, or are just interested in learning more about what it means to work with a fiduciary, we’re happy to offer you a complimentary consultation. Call (626) 529-2362 or email to get started.

About Dave

Dave Eversfield is a wealth manager at Arrowhead Wealth Advisors, an independent wealth management firm dedicated to using a holistic, client-centered approach to help pre-retirees manage risk and grow and secure their savings. With over 20 years of experience, Dave partners with his clients to provide personalized financial strategies that meet their most pressing financial needs today and build a firm foundation for their futures. He is known for going the extra mile, giving personal attention and a high level of care to every client he works with, and building long-term relationships based on trust. His best days are when he can celebrate with a client who has achieved a significant goal, such as paying for their child’s college education or reaching financial independence and having the freedom to travel, spend time with family, or whatever it is they dream of in retirement.

Dave has a bachelor’s degree in business administration from California State University, Los Angeles, and is a Certified Wealth Strategist® (CWS®). When he’s not working, he loves to be outside, either hiking, camping, playing golf (disc and regular), or riding his dirt bike. He is a strong believer in giving back to his community and volunteers his time to feed the homeless in his area. To learn more about Dave, connect with him on LinkedIn.