The Fiduciary Advisor
Most people selling financial products aren't required to put your interests first. We are, and we think you should know exactly what that means before you ever sit down with anyone.
What “fiduciary” actually means
Strip away the legal dressing and it’s simple: a fiduciary is legally required to recommend what’s best for you, even when something else would pay them more. Not “suitable.” Not “good enough.” Best for you, specifically: your goals, your timeline, your family.
That’s the standard we hold ourselves to at Oaks, on every recommendation we make.
Why most advisors aren’t required to act this way
Plenty of people who sell financial products only have to meet a lower bar: the recommendation has to be “suitable,” not necessarily the best available option. That’s a legal line, not a knock on any individual person’s character, but it means the two products in front of you might both be “suitable” while paying wildly different commissions. Knowing which standard someone works under tells you a lot about whose interests come first.
How to tell if your advisor is one
- Ask directly: “Are you a fiduciary at all times when advising me?” A straight yes is the answer you want.
- Ask how they’re paid: fee-only, commission, or a mix. Fee-only advisors aren’t paid to sell you a specific product.
- Ask for it in writing. A real fiduciary won’t hesitate.
How Oaks documents this for you
Our fiduciary obligations are described in our Form ADV, which we’re glad to walk through with you line by line, no jargon, no rush. If a recommendation ever doesn’t make sense, ask us to explain it in plain terms. That’s not an inconvenience to us; it’s the job.
Quick answers
- What does fiduciary mean for a financial advisor?
- A fiduciary is legally required to recommend what is best for you, even when something else would pay them more. Most people selling financial products only have to meet the lower “suitable” standard.
- How do I know if my advisor is a fiduciary?
- Ask directly: “Are you a fiduciary at all times when advising me?” Ask how they are paid, and ask for the answer in writing. A real fiduciary won't hesitate.
- Is Oaks Financial Services a fiduciary?
- Yes. We hold ourselves to the fiduciary standard on every recommendation, and our obligations are described in our Form ADV, which we are glad to walk through with you line by line.
Understanding the topic is one thing. Seeing how it applies to your own plan is another.
See how this applies to you