Fiduciary Duty
MVK Financial Planning was founded in a way that imagines us on the client’s side of the desk. That is what a Fiduciary Duty is about.
What is fiduciary duty?
A Fiduciary is someone who must work in the best interest of someone else. An investment adviser has a duty of both care and loyalty and must embrace the goals and objectives of their client. This means the adviser cannot place their own interests ahead of their clients’ interests. They must work in the best interest of the client, at all times.
What is duty of care?
As defined by the Securities Exchange Commission (SEC) “the duty of care included, among other things, the duty to provide advice that is in the best interest of the client”, as well as “the duty to provide advice and monitoring over the course of the relationship.”
What is the duty of loyalty?
As defined by the Securities Exchange Commission (SEC) “an investment adviser must not place its own interest ahead of its clients’ interests…In addition, an adviser must eliminate or at least expose through full and fair disclosure all conflicts of interest which might incline an investment adviser – consciously or unconsciously- to render advice which was not disinterested.”
- Your Best Interest in Mind
- Transparency of Fees
- Duty of Care and Loyalty
