Likewise, we take the security of your personal, confidential information very seriously, and have a host of procedures to protect it, both in paper and electronic form. All checks are to be made out directly from you to the custodian institution - never to STEVE ROBBINS, CFP ® or its personnel. All accounts are titled directly in your name. Transfers go directly to the custodial institution, and when you want money, checks are sent directly to you from the institution. Pershing, L.L.C. and Nationwide Advisory Solutions serve as our primary custodians. So, for us, it's business as usual.Īn important - and indelicate (so we'll ask it for you) - question is "how secure are my accounts?" "Who would have access to them?" STEVE ROBBINS, CFP ® takes the security of client funds very seriously and has adopted a number of "check and balance" systems to protect you.įor instance, all client accounts are held - "custodian" - at major, independent third-party financial institutions, not at STEVE ROBBINS, CFP ®. Third, and most importantly, we've always followed the Fiduciary Standard because we believe it's the right thing to do. Second, because our greatest passion is helping people work toward their financial goals, and we believe that acting as a fiduciary is the best way to do that. First, because we know the only way we can be successful is if our clients are successful. We've always put our clients' interests first. You see, we have been following the Fiduciary Standard for years. So, what does all of this mean for our firm? Absolutely nothing.
#Fidutuary and standard accounts professional#
As a fiduciary we must (1) meet a professional standard of care when making investment recommendations (give prudent advice) (2) never put our financial interests ahead of yours when making recommendations (give loyal advice) (3)avoid misleading statements about conflicts of interest, fees, and investments (4) follow policies and procedures designed to ensure that we give advice that is in your best interest (5) charge no more than is reasonable for our services and (6) give you basic information about conflicts of interest. Basically, when we provide investment advice to you regarding your retirement plan or individual retirement account (IRA), we are fiduciaries under the laws governing retirement accounts. On December 15, 2020, the Department of Labor issued its interpretation of fiduciary. Even if the advice that an adviser gives is less good for the adviser, they must give it if that's what is best for the client. Advisers who are fiduciaries put their clients' interests before their own. There is, however, a higher standard that some advisers hold to. This allows advisers to give advice that may be in the adviser’s best interest, but not necessarily in the client's best interest, as long as that advice can technically still be considered "suitable." This means they are only expected to make recommendations that are considered "suitable" for their clients.
Fiduciary Standardįor years, many advisers have followed the Suitability Standard. Here is a list of our partners.STEVE ROBBINS, CFP® is an independent fiduciary, fee-only investment adviser, who accepts no payment or economic benefit for professional services from any source other than client fees. Our partners cannot pay us to guarantee favorable reviews of their products or services. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. So how do we make money? Our partners compensate us. And while our site doesn’t feature every company or financial product available on the market, we’re proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward - and free. We believe everyone should be able to make financial decisions with confidence. Our estimates are based on past market performance, and past performance is not a guarantee of future performance. Examples are hypothetical, and we encourage you to seek personalized advice from qualified professionals regarding specific investment issues. NerdWallet does not and cannot guarantee the accuracy or applicability of any information in regard to your individual circumstances. They are not intended to provide investment advice. Its articles, interactive tools and other content are provided to you for free, as self-help tools and for informational purposes only. is an independent publisher and comparison service, not an investment advisor.
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