19 Briar Hollow Lane
The fiduciary standard was established as part of the Investment Advisers Act of 1940. It states that an advisor must always act in the best interests of his or her clients and place clients' best interests before his or her own. It also means that an advisor must make sure to provide financial advice that is sound, accurate, and free from conflicts of interest. Furthermore, fiduciaries are required to disclose any potential conflicts of interest to their clients, and must strive to transact on behalf of clients in a manner that's as efficient and low-cost as possible.
Our primary relationship managers, and many staff, are CFP® professionals (Certified Financial Planner). In addition to the fiduciary standard of care for clients required by the Investment Advisors Act, we also abide by the CFP Board’s Code of Ethics and Standards of Conduct. This is a higher level of commitment to our clients. Violations of the Code and Standards may subject a CFP® professional to discipline.
DUTIES OWED TO CLIENTS
At all times when providing Financial Advice to a Client, a CFP® professional must act as a fiduciary, and therefore, act in the best interests of the Client. The following duties must be fulfilled:
A CFP® professional must provide Professional Services with competence, which means with relevant knowledge and skill to apply that knowledge. When the CFP® professional is not sufficiently competent in a particular area to provide the Professional Services required under the Engagement, the CFP® professional must gain competence, obtain the assistance of a competent professional, limit or terminate the Engagement, and/or refer the Client to a competent professional. The CFP® professional shall describe to the Client any requested Professional Services that the CFP® professional will not be providing.
A CFP® professional must provide Professional Services, including responding to reasonable Client inquiries, in a timely and thorough manner.
A CFP® professional must exercise professional judgment on behalf of the Client that is not subordinated to the interest of the CFP® professional or others. A CFP® professional may not solicit or accept any gift, gratuity, entertainment, non-cash compensation, or other consideration that reasonably could be expected to compromise the CFP® professional’s objectivity.
A CFP® professional must treat Clients, prospective Clients, fellow professionals, and others with dignity, courtesy, and respect.
A CFP® professional must provide a Client with accurate information, in accordance with the Engagement, and in response to reasonable Client requests, in a manner and format that a Client reasonably may be expected to understand.
A CFP® professional may not make false or misleading representations regarding the CFP® professional’s or the CFP® Professional’s Firm’s method(s) of compensation.