Your Money First is about informing you on issues of fiduciary responsbility. A fiduciary is an entity that puts your interests in front of their own. In the investment world, broker/dealers do not have a fiduciary responsbility with your money. Current regulation only requires them to offer suitable investment choices for you. On the other hand, registered investment advisers (RIAs) have both fiduciary and suitability requirements. So next time you see an advertisement for a financial advisor, if they have a disclaimer… “securities offered by…”, remember that it’s from someone only looking for suitable choices, but not always the best. Think about it, which would you prefer? RIAs will provide you with the best investments for you, not for the broker.
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