Fiduciary (fi·du·cia·ry) stems from the Latin word fidere, which means “to trust.” The definition of fiduciary, according to Merriam-Webster, is: relating to, or involving a confidence or trust. One can act in a fiduciary manner (adjective) or act as a fiduciary (noun). A fiduciary is trusted and relied on to act in the best interest of the client at all times.
“A financial advisor who follows a fiduciary standard must disclose any conflict, or potential conflict, to their clients prior to and throughout the advisory agreement. Registered Investment Advisors (RIAs) are held to a fiduciary standard of care. By law, they must act solely in the best interest of their clients.” -From the National Association of Personal Financial Advisors (NAPFA)
A recent article in The New York Times by reporter Tara Siegel Bernard posed the question “What kind of adviser should I work with”… “You’ll want to hire the type of financial adviser who promises to act as a fiduciary all of the time, with all of your money, which is a fancy way of saying that person must be loyal to you first. In fact, you should ask your financial planner to sign a fiduciary pledge, a promise not to profit at your expense.”
Baron Financial Group is a Registered Investment Adviser (RIA). We are long-time members of NAPFA, and we sign a fiduciary oath for every client we serve. Advisors in our firm hold the CFP® and CFA® designations, as well as the NAPFA-Registered Financial Advisor designation. We work hard to educate our clients and the public about transparent- and objective-financial advice, where the client’s interests come first.
We are proud to be a Women’s Choice Award® Financial firm since its inception in 2013. The Women’s Choice Award for Financial Advisors was created by WomenCertified Inc. in an effort to help women identify financial advisors and firms that provide quality service and strong commitment to their female clientele. The award is based on rigorous research, 17 objective criteria and additional points of reference that obtain feedback regarding the advisor’s service and practices. Women’s Choice Award® Financial Advisors and Firms represent less than 1% of financial advisors in the U.S. As of July 2017, of the 807 considered for the Women’s Choice Award, 139 were named Women’s Choice Award Financial Advisors/Firms.
This recognition demonstrates our commitment to all clients, but allows us to further highlight our commitment to the women’s market and to our profession — symbolizing the integrity, knowledge and service excellence we strive to deliver to every client.
Click here for a list of the Women’s Choice Award® selection criteria.
A 45-second read by Anthony Benante: For your specific portfolio, you need to evaluate your ability and willingness to take risk to help determine your personal profile. Without knowing about your entire financial situation, we would not make a specific recommendation for any asset. Typically, including globally-diversified assets in your investment strategy offers statistical benefits. We encourage you to think about the long-term nature of investing and validate your investment strategy with a comprehensive financial plan. The plan should show outcomes based on different market environments and cycles.
Given the expectation that you could live into your 90s, it would probably not be best to look at your portfolio through a political lens. In the short-term, breaking news is constantly occurring and it would be difficult to react correctly to each new development as it relates to your investments. Over the long-term, there is the possibility for change in political parties and history suggests that the political party in charge in the United States has little impact on long-term market performance. The decision to include international investments should not be directed by current political situations, but rather based on which investment strategy can help you achieve long-term success.
Reach out to our Baron team if you have any questions…
Baron is pleased to award a Baron Financial Group Scholarship for the 7th consecutive year. Two deserving graduates from the Fair Lawn High School Class of 2017 were presented their awards in our principal office on Route 208 South in Fair Lawn. Duke Kwon will study Economics and Computer Science at Rensselaer Polytechnic Institute in Troy, New York. Duke’s future plans include developing business apps for iPhones and Androids. Alyssa Kline will be attending Messiah College in Mechanicsburg, Pennsylvania, as an Accounting major. Alyssa’s goal is to become a CPA.
Continuing in our commitment to education, Baron Financial Group is proud to help these deserving students further their education.