THE IMPORTANCE OF WORKING WITH A FIDUCIARY

by Ronald Stevenson and Barbara Clark Stevenson

You may have heard about the U.S. Department of Labor’s long-anticipated fiduciary rule that passed in the spring. The new regulations that accompany the rule are expected to not only significantly alter how people plan for retirement, but also protect individuals from biased retirement advice.

But what exactly is a fiduciary?

A fiduciary is an individual or firm that is committed to putting their client’s interests first. Advisors will be required by law to adhere to this standard and offer complete transparency, even when it comes to clear and upfront fees.

Before this ruling, recommendations made by advisors only had to be “suitable,” meaning that advisors could sell products riddled with high fees in order to earn a higher commission, even if a lower-priced option was equally as applicable.

Although the new DOL rule is a step toward protecting the average investor, there will still be Wall Street brokerage firms that can sell proprietary products, which means the potential for bias remains. Working with a fiduciary is as important as it has ever been.

At American Financial Investments, LLC, we are dedicated to providing you with personalized financial solutions, and making sure that your needs and goals are placed first. Ruling or not, we have always been devoted to serving our clients with the best advice we can offer.

We strive to provide you with the solutions that we believe align with your unique goals, and work with you to make sure your financial planning is on the right track. When you do business with our team, you will know exactly what you are paying for or investing in because of our total transparency and disclosure regarding our compensation and investment methods.

In the current economic landscape, it is more important than ever that you choose to work with a financial professional who puts your best interests first.

About the Authors: Ronald F. Stevenson, Investment Advisor Representative, & Barbara Clark Stevenson own American Financial Investments, LLC, A Registered Investment Advisory Firm. They specialize in professional investment and portfolio management, retirement income planning, social security maximization, tax free income design, annuities, personal & corporate tax preparation and planning. For more information, call 928-771-8368, 3112 Clearwater Dr., Suite B, Prescott, AZ 86305 or visit our website: American.Financial 

Investment advisory services offered through American Financial Investments, LLC a Registered Investment Advisor in the State of Arizona. Insurance products and Tax services are offered through American Financial Security, LLC. American Financial Investments, LLC and American Financial Security, LLC are affiliated companies.