'Trust Me. I Am a Fiduciary': But That Does Not Always Mean What You Think It Means

The author describes three types of fiduciaries: moral fiduciaries who act based on personal character, legal fiduciaries bound by federal or state law and ethical fiduciaries guided by a professional code of standards. CFP® professionals fall into the ethical category, committing to CFP Board to act as a fiduciary — which means to act in the best interests of the client at all times when providing financial advice and financial planning.

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