What is a Fiduciary?

FI•DU•CI•AR•Y   \DEFINITION\:   A person legally appointed or authorized to manage assets for another person. The fiduciary manages the assets for the benefit of the other person, rather than for his or her own profit. A fiduciary stands in a special relation of trust, confidence, or responsibility in his obligations to others.

\USAGE\: A registered investment advisor, who is held to a “fiduciary standard,” looks after the assets of another person on that person’s behalf, is fully transparent, and required to disclose any potential conflicts of interest. A registered investment advisor is, by definition, legally bound and committed to working in their clients’ best interests.

Successful Portfolios is a fiduciary. We encourage you to look us up anytime using the SEC’s Registered Investment Adviser Search Tool.

About the Author:

Parker Evans, CFA, CFP, CMT is President of Successful Portfolios LLC, an SEC Registered Investment Advisor Firm based in Clearwater, FL. Parker helps individuals, families, and organizations plan and manage custom investment portfolios at leading brokerages including Charles Schwab, TD Ameritrade, and Interactive Brokers.