Broker vs Fiduciary? Is there a difference?

Two and a half minutes of your time to watch this video to learn the difference.

Everyone who works with you and some aspect of your money may call themselves a financial adviser. That’s a label that means not-so-much. The industry does not use the term broker much anymore either. Yet the function is still the person’s primary business if that is the type of office in which they work. How do you choose who who work with?

You should dig deeper into their qualifications. How are they registered? If so, with who? Do they have any designations? If so, which one(s) and what do those mean (see pull down menu at link)?

How are they compensated? You see, most “advisers” spend most of their time learning product features and benefits … regardless of the form of compensation. With that, you get only product and maybe some good advice. However, there are a few in the industry who spend their time looking at the bigger picture to understand what is going on and how we fit into it. With that approach comes strategy … and strategy does not depend of product; instead strategy is part of a larger process. Just investing is basically concentration on product. Process is part of understanding the difference between what you can control, and what you can’t control, and concentration on the prior.

What have they done above and beyond the basic registration and qualifications in the industry? Do they have their own book? Do they write for publications? Are they quoted in publications? Have they done research and is it peer-reviewed and published?

What kind of Investment Adviser are they?

Learn more at

One Response to Broker vs Fiduciary? Is there a difference?

Leave a Reply