Seldom have I read a blog post that I wish I could share with the entire world, but Tara Siegel Bernard, writing on ‘Bucks’ over at the New York Times just laid one down that I have to share with you. Her post titled ‘Will You Be My Fiduciary‘ and the article that she wrote to go along with it deserve your attention. Tara posts a simple fiduciary pledge that you can at least use to start an important conversation with your advisor. While many wont sign it and some have legitimate reasons for not signing, it gives you a chance to learn why and have a hard conversation about what is in your best interests. I’ve posted the pledge below, but please read Tara’s entire post here.
The Fiduciary Pledge
I, the undersigned, pledge to exercise my best efforts to always act in good faith and in the best interests of my client, _______, and will act as a fiduciary. I will provide written disclosure, in advance, of any conflicts of interest, which could reasonably compromise the impartiality of my advice. Moreover, in advance, I will disclose any and all fees I will receive as a result of this transaction and I will disclose any and all fees I pay to others for referring this client transaction to me. This pledge covers all services provided.
X________________________________
Date______________________________
