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NAPFA Fiduciary 101 Infographic

Why You Need a Fiduciary

by Tull Financial Group | July 29, 2017 | Financial Planning, Wealth Management

We are often asked by first-time callers to our office if we are a “Fiduciary.” It seems like the word is all over the news these days, but what exactly does it mean? In a nutshell, a fiduciary is a person or organization who is ethically bound to put a client’s best interests first at all times. And as of June 9, 2017, the government has passed the Department of Labor (DOL) fiduciary rule to ensure that anyone who gives financial advice on retirement savings accounts must behave in a fiduciary manner.

We are pleased that the government is looking out for the best interest of consumers, but we want you to know that the government didn’t need to tell US to do this…we’ve been doing it for years.

At TFG, we understand the importance of serving as a fiduciary because the client’s interest must always come first. Not to get into the weeds, but we have long been Registered Investment Advisors (RIAS) which requires fiduciary duty, and TFG officially became a fee-only firm in 2004, which means we do not accept any fees or compensation based on product sales. In 2006, Robin Tull also joined NAPFA, the leading professional association of fee-only financial advisors, where he has taken a Fiduciary Oath.

So I guess you could say that TFG was a fiduciary, before being a fiduciary was cool.

NAPFA has put out a great infographic, Fiduciary 101, explaining what consumers need to know in order to protect themselves. Now that you understand what fiduciary means, tell your friends, because who doesn’t want to know how to better protect their hard-earned money? And as always, we are happy to answer any questions you have about our fees and services, or just to help clarify the differences in financial professionals.

In summary, we are very serious about serving our clients in the role as their fiduciary. If you know of someone that is looking for a trusted advisor who has long been serving clients in the fiduciary role, please forward to them this article. We welcome your questions and comments.

Tull Financial Group is a fee-only advisory firm and a proud member of NAPFA (National Association of Personal Financial Advisors). The team at TFG is committed to providing the best wealth management and retirement planning services by creating and maintaining relationships that go beyond your bank account so that we can help you achieve your financial goals.

This blog article is provided for general information only, and nothing contained in the material constitutes a recommendation for purchase or sale of any security, or investment advisory services. Reproduction of this material is prohibited, and all rights are reserved. Read the full Disclosure.