Advisors owe clients fiduciary responsibility and integrity
Financial advisors have a fiduciary responsibility to their clients, meaning they must prioritize the client’s interests above their own.
This responsibility is grounded in fact-finding and understanding the client’s goals, assets, and long-term affordability.
Advisors must also be aware of potential conflicts of interest and ensure that their compensation does not influence their recommendations.
Regular reviews are necessary to ensure that the client’s circumstances and market assumptions have not changed, affecting the performance of recommended products.