Love The Hustle Blog

Fiduciary Or Broker? Know Your Information Source

When it comes to finance, how do you avoid information overload? When sifting through the wealth of information and opinions out there, always consider the source. Do they have your best interests at heart? Or do they answer to their own best interests and bottom line?

A fiduciary advisor, like LexION Capital, is legally required to act in your best interests. The Fiduciary Standard is the highest possible legal standard for financial advisors. Most Wall Street advisors are brokers, who are only held to the lower legal bar of the Suitability Standard. Unless you work with an independent fiduciary, you can’t be sure that the advice you receive is truly intended to benefit you, the client, rather than serve the interests of the firm or broker.

Similarly, it is in the interest of the media to get you to tune in. The latest sensational news, trends, and fads may create more headlines than simple strategies that are vetted and timeless, but those simple strategies, such as a well-diversified portfolio, will help you build a smart financial foundation. As a savvy and critical consumer of information, you can stay above the hype and make smart financial decisions that are right for you.