Expert: Craig Chandler, Registered Investment Advisor and owner/founder of Chandler Wealth Management with offices in Atlanta and Kennesaw, GA, The Villages and Stuart, FL.

Should the financial advisor I hire be a fiduciary?

You’ve spent decades working to achieve long-term goals and enjoy a secure retirement. That hard effort deserves respect.

When you reach out to a professional for help with retirement planning, you want someone who always puts you first. There are multiple reasons why it’s a good idea for your financial advisor to be a fiduciary.

“A fiduciary is legally required to act in your best interest, prioritizing your needs above their own when making financial recommendations They are required to put your financial well-being first,” says Craig Chandler, owner and founder of Chandler Wealth Management.

Because a fiduciary has a legal obligation to work for their client’s benefit, you can trust that this individual is held to the highest standard of conduct and accountability.

“Working with a fiduciary offers peace of mind that your advisor is acting in your best interest. If they fail to do so, they can face legal consequences,” explains Craig.

There are additional reasons why working with a fiduciary is beneficial:

• Higher Standard of Care: Fiduciaries are held to a higher standard and must avoid conflicts of interest.
• Tailored Advice: The advice they provide must be specifically tailored to your financial situation, free from influence by commissions or product sales.
• Transparency: A fiduciary is required to be transparent, including fully disclosing their fees and how they are compensated.

Non-fiduciary advisors, on the other hand, are considered commission-based brokers and are only required to meet a “suitability” standard. This means that their recommendations must be suitable for you but may not necessarily be the best option.

“For long-term financial planning, retirement, or complex investment strategies, a fiduciary advisor can provide greater confidence that your financial goals are their top priority,” says Craig.

He believes clients deserve to work with a dedicated advisor who has the highest level of integrity, honesty, and ethics. His goal is to create plans that work as hard and smart as the clients did when earning their money.

Whether working with an individual or a family, Craig develops comprehensive financial strategies that help protect their futures. For all aspects of retirement planning, you can trust the expert team at Chandler Wealth Management.