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It is not a word one encounters everyday – fiduciary. The word sounds very legal, very business-like. It is often used by lawyers to describe a certain kind of relationship.
The word “fiduciary” comes from the Latin word fidere, which means “to trust.” The dictionary describes “fiduciary” as someone or something demonstrating “a strict and continuing faithfulness to an obligation, trust or duty.” At Central Trust Company we provide a vast array of wealth management solutions while adhering to the fiduciary duty, simultaneously. Adhering to the Fiduciary Standard means we are legally and ethically responsible for always acting within our client’s best interest and upholding the highest standard of honesty, integrity, and transparency.
Granting access to your hard-earned money and investments is challenging for many individuals. This is why trusting a team of professionals who avoid using your assets to benefit themselves but instead always act within your best interest can help with peace of mind. Having an advisor that prioritizes the client’s long-term interests is essential for the relationship to extend beyond just a short-term transaction. The fiduciary advisor looks after the client first – to be trustworthy in situations where it would be convenient for a “non-fiduciary” to take advantage of the client. Additionally, fiduciaries are bound to be transparent and avoid conflicts of interest.
Having a trustworthy team of advisors who always make decisions in your best interest will yield you greater confidence and peace of mind throughout your financial journey. Fiduciaries that “go to battle” for their clients by finding the best answers they can – using knowledge, wisdom, and skill, to create the best solutions possible, will serve as valuable assets to your team. For many advisors, being a fiduciary is more than just working in a business – it is a calling. It is an attitude of faithfulness to the clients the fiduciary serves, ensuring their future well-being – financial and otherwise.
When choosing your team of trusted advisors to manage your hard-earned money and investments, always verify that they adhere to the fiduciary standard. At Central Trust Company, we provide world class “fee-only” wealth management solutions all free from conflicts of interest. To learn more about our fiduciary services, contact a member of our team, today.