Why Work with a Fiduciary Financial Advisor in Logan, UT
Like most people, you’ve probably worked hard to earn a living and build a comfortable life for yourself and your family. But with so many investment options and financial services available, knowing what’s right for you can be difficult. That’s why working with a fiduciary financial advisor in Logan, UT, could be a smart choice.
What a Fiduciary Financial Advisor Is
First, let’s start with what a fiduciary financial advisor is. A fiduciary is legally and ethically obligated to act in your best interest when giving financial advice. This means they must put your interests ahead of their own and avoid conflicts of interest that could influence their recommendations.
To find a fiduciary financial advisor, you might look for a firm registered as an investment advisor with the U.S. Securities and Exchange Commission (SEC) or a state regulatory agency. These Registered Investment Advisors (RIAs) must serve as fiduciaries to clients.
Another way to identify a fiduciary is to look for certain advisor designations. For example, a CERTIFIED FINANCIAL PLANNER™ (CFP®) professional must act as a fiduciary.
You might also consider fee-only or independent firms to help ensure your advice is in your best interests.
Being fee-only means that the advisor does not earn commissions from selling financial products. Instead, they are compensated directly by their clients for their advice and services.
An independent firm is unaffiliated with financial or insurance companies. That means they aren’t taking direction from a larger institution like a bank or brokerage firm.
What a Fiduciary Financial Advisor Can Do for You
You probably expect a fiduciary financial advisor to provide objective investment advice and management. But they may also offer advice and planning on a wide range of financial needs, not just investment management. They may help you with retirement planning, tax planning, estate planning, insurance needs analysis, and more.
For example, if you’re planning for retirement, a fiduciary financial advisor can help you calculate how much you need to save during your work years, recommend retirement accounts, and provide guidance on how to manage your assets in retirement.
How to Find a Fiduciary Advisor in Logan, Utah
So, how can you find a fiduciary financial advisor in Logan? One way is to ask for referrals from friends, family, or professionals you trust, such as your accountant or attorney.
You can also search online for fiduciary financial advisors in your area. Two resources you can use are FeeOnlyNetwork.com and the National Association of Personal Financial Advisors (NAPFA) Find an Advisor tool. Both sites allow you to search for fee-only financial advisors in your area who are fiduciaries.
The CFP Board’s Let’s Make a Plan website is another resource for finding a fiduciary financial advisor who is also a CERTIFIED FINANCIAL PLANNER™ professional. The website allows you to search for CFP® certificants by location, including Logan, UT.
Once you’ve identified potential fiduciary financial advisors in Logan, schedule a consultation to discuss your financial goals and how they may help you. This is a good opportunity to ask any questions about their services, experience, and fees.
Objective Advice on a Wide Range of Needs
In conclusion, working with a fiduciary financial advisor in Logan, UT, can provide you with objective, unbiased advice on a wide range of financial matters. To more easily find a fiduciary, look for a Registered Investment Advisor or a CERTIFIED FINANCIAL PLANNER™ professional. You might also check whether a potential advisor is fee-only and independent. You can use online resources such as FeeOnlyNetwork.com, NAPFA’s Find an Advisor tool, and the CFP Board’s Let’s Make a Plan website.
Once you’ve identified potential advisors, schedule a consultation to discuss your financial goals and the advisor’s services. Working with a fiduciary financial advisor can help you make informed decisions about your financial future and could give you peace of mind knowing that your interests come first.
Schedule a complimentary, 15-minute call with a fiduciary financial advisor today to discuss your personal situation.
This material was generated using artificial intelligence (ChatGPT) and edited by Kaleido Inc. from information derived from sources believed to be accurate. This information should not be construed as investment, tax, or legal advice.
Parkshore Wealth Management is a family-owned, independent, fee-only Registered Investment Advisor with offices in Roseville and Folsom, CA, and Lehi and Logan, UT. We partner with financially responsible individuals and families who are eager to take positive steps that will allow them to use their money to build the life they desire. The firm is led by Harold Anderson, CFP®, and Daniel Andersen, CFP®, both members of NAPFA, the country’s leading professional association of fee-only financial advisors.