Before you move forward in working with a financial advisor, you need to be sure that you know which set of “rules” he or she is working under. This is because under financial laws and regulations, there are actually two different standards of consumer protection.
One of these is for financial advisors who offer various insurance and investment products. These “salespeople” are essentially obligated to their employers – not to their clients. The other is for professionals who are registered as investment advisors with the federal Securities and Exchange Commission(SEC) or comparable state regulators.
In the case of the latter, a Registered Investment Advisor does not sell specific products to their clients, but instead offers financial solutions. In doing so, the clients’ goals are put ahead of everything else. In fact, as fiduciaries, it is their legal obligation. At Dash Investments, this is what we do.