Understanding the Value of a Fiduciary in Your Financial Journey

What’s a fiduciary? Is every financial advisor a fiduciary? Why does this distinction matter?

As a dedicated fiduciary based in Tucson, AZ, I’m often asked, “what exactly is a fiduciary? “Is a fiduciary just a financial advisor?” And “why should I choose a fiduciary over an investment advisor? “

I don’t mind answering these questions. I’m glad to explain my fiduciary duty and how it helps you as my client because it definitely does!

What Is a Fiduciary?

A fiduciary is a financial advisor or institution that must act in your best interest by law and ethics. This commitment goes beyond mere advice; it encompasses every recommendation and financial strategy we develop together.

Non-fiduciary advisors may suggest products with higher commissions that may not be the best choice for you, whereas fiduciaries must prioritize your financial well-being above all else.

Why Is Fiduciary Guidance Significant?

• Client-First Approach: As a fiduciary, I ensure that your interests, goals, and financial aspirations take precedence. This method builds an open, trustworthy relationship where you can be sure that your financial health is the main priority.
  
• Transparency in Fees: Fiduciaries must be upfront about how they are compensated for their services, whether it’s a one-time fee, or associated with assets under management, advisement, and more. This transparency eliminates any potential conflicts of interest, ensuring that the advice you receive is unbiased and tailored to your needs.
  
• Comprehensive Wealth Management: Fiduciaries like myself operate at their highest standard when they take a holistic view of your financial situation. My role involves understanding the entirety of your financial picture, including retirement planning, investments, taxes, and legacy planning. By considering all these aspects, I can design a cohesive strategy that aligns with your long-term objectives.
• Ethical standards: By following strict ethics, fiduciaries giving advice that benefits you the most. This commitment extends to all aspects of my client relationships, from the initial financial plan to ongoing management and adjustments based on life changes.

The Fiduciary Difference

In a world where financial advice is plentiful but not always reliable, having a fiduciary by your side can make all the difference. It ensures that your financial journey is navigated with the utmost care and dedication to your interests, nothing else.

How to See the Difference

Financial advisors who complete the required training and education from the Financial Industry Regulatory Authority (FINRA) to receive a Certified Financial Fiduciary® (CFF®) designation to display. For instance, as a licensed fiduciary, I can show my qualifications by using my name as “Nigel Valdez, CFF®, FRC®, BPC.”

For federal employees and retirees in Tucson, AZ, my specialized services as a Federal Retirement Consultant® help leverage this fiduciary commitment to your advantage. Whether you’re planning for retirement, managing investments, or navigating the complexities of federal benefits, my role as a fiduciary helps ensure that your financial plan is developed with only your best interests in mind.

You can also see that in addition to my CFF certification, I have a BPC designation, not held by every fiduciary, meaning that I’m Bucket Plan® Certified (BPC) as a holistic financial professional. In short, I specifically follow the Bucket Plan® Best Interest Planning Process and deliver a customized financial “Bucket Plan” for every client I serve.

Moral of the story: Not every financial advisor is the same in expertise or credentials. If they are not fiduciaries, they do not have to adhere to the same moral and legal standards that I believe are paramount to great client service.

Why Work with A Fiduciary?

Choosing a fiduciary means selecting a partner who is legally bound to put your interests first. In my practice, this principle is at the heart of everything I do. By embracing a fiduciary approach, I am dedicated to providing you with the highest standard of financial advice, designed to empower you to achieve your financial goals with confidence and clarity.

Want to make sure your interests are the only ones prioritized in your financial plan? I’d love to help you on your financial journey. Book a call or send me a message to get started.