BUILDING A FOUNDATION OF TRUST
In the financial world, knowing whom to trust can be complicated by industry terminology intended to differentiate various categories of advisors, with varying levels of education, experience, and regulatory commitments to their clients.
At Comprehensive Wealth Management (CWM), our advisors are fiduciaries, individuals who are obligated to put clients’ needs ahead of their own, in two ways:
- First, being registered with the Securities Exchange Commission (SEC) as a Registered Investment Advisor (RIA) means we are legally held to this standard.
- Second, advisors who hold the Certified Financial Planner™ (CFP®) professional designation (including our Brian Lockett) are required to put their clients’ interests first at all times.
At CWM, we further underscore our fiduciary commitment with years of education and ongoing training for our advisors.
What Differentiates RIA Fiduciaries From Brokers?
Here are a few important distinctions:
Primary Focus of Services
|Provide holistic advice and financial counsel based on client’s financial and lifestyle goals|
Offer a full breadth of financial services and products; not tied to specific investment products or funds
|Buy and sell securities, traditionally more transactional and time-limited in nature|
Client's Best Interest
Held to fiduciary standard by SEC, serving a client’s best interest over the lifetime of the relationship
Required to act in a client’s best interest at the time of advice, with no long-term commitment required
(Learn more about Regulation Best Interest)
(Learn more from Jay Clayton of the U.S. Securities and Exchange Commission)
Typically based on a percentage of client portfolios, meaning their compensation is aligned with the success of the client’s investments
Primarily based on commissions for products sold to clients
As an independent, family-owned firm, team members at CWM are both obligated and encouraged to focus on the financial tools and strategies that are right for each client.
It is important to know that neither fees nor commission solely qualify or disqualify an advisor from working under the fiduciary standard. The most important factor is whether the recommended strategy, investment, or product is right for you and your goals.
For more on the fiduciary concept, and how it can play out in real-world client scenarios, see "What is a Fiduciary?" by CWM advisors Brian Lockett and Marc Knauss.
The CWM Way
PUTTING CLIENTS FIRST
A fiduciary embodies the concept of “you before me” – a model we consider to be the lifeblood of our business. We are proud that our clients’ interests come first in every business decision, piece of advice, and strategic recommendation we share. Find out more about CWM’s promise to clients, and how we work to achieve deep and lasting client relationships.
We're Here To Help
Schedule a complimentary, introductory phone call to find out how our team can partner with you to pursue your goals.