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  • Timothy Iseler

What the Heck Is a Fiduciary?

I wrote another post about how some financial advisors still get paid through sales commissions. There is nothing inherently wrong with that model – though it does raise some questions.


Honest opinion: do you think everyone who get paid commissions always has your best interests in mind? Are their recommendations based on what's best for you – or because they earn more money if you buy move (or more expensive) things?


I know what my opinion is, and that's not how I want to do business.


As a Certified Financial Planner™, I am required to uphold a fiduciary oath. A fiduciary is a person or organization that acts on behalf of another – putting clients' needs ahead of their own – with a duty to preserve good faith and trust. Doctors and lawyers have a fiduciary duty, as do the trustees who administer trusts or the legal guardian of a minor child. So do CFP® professionals.


Iseler Financial is a fee-only business, which means that my only compensation comes directly from clients – and never from commissions or kick-backs. My fees are spelled out in advance before anyone signs a contract. And, because I never receive sales-based compensation, my only motivation is to do what's best for each and every person I serve.


So what do you think? Does it matter if your financial advisor makes more money when you buy one company's insurance policy versus another? Or if buying and selling certain investments boosts their take-home pay? Is it important to you?


Or is it better when the advice you receive has nothing to do with selling products, since your advisor's compensation is directly tied to your financial success?


If you chose door number two, chances are that working with a fee-only fiduciary is the right move for you.


Please let me know if you have any questions about your financial health or would like to learn more about working together. You can email anytime (all emails are checked by yours truly) or use this link to sign up for weekly office hours.


Thanks,


Timothy Iseler, CFP®

Founder & Lead Advisor

Iseler Financial, LLC | Durham NC | (919) 666-7604


Iseler Financial helps creative professionals remove stress while taking control of their financial lives. We'll help identify current your strengths and weaknesses, clarify and refine your long-term goals, and prioritize decisions to improve your financial well-being now and later. Reach out today to take the first step.

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