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Investment Tips & Tools: Advisor Fiduciary Pledge

The 403(b) arena can be full of sales agents pitching high-fee products that serve their interests at the expense of their client's. The solution? Require all investment professionals to take a formal fiduciary pledge in writing to put their client's interests above their own.

What is a financial fiduciary?

A written pledge to provide financial planning services that put client's interest ahead of planner's interest. Download a copy of this pledge for your advisor to sign.

I, the undersigned, pledge to exercise my best efforts to always act in good faith and in the best interests of my client, ___________________ , and will act as a fiduciary. I will provide written disclosure, in advance, of any conflicts of interest, which could reasonably compromise the impartiality of my advice. Moreover, in advance, I will disclose any and all fees I will receive as a result of this transaction and I will disclose any and all fees I pay to others for referring this client transaction to me. This pledge covers all services provided.

Signature ______________________________________

Printed Name ______________________________________

Date ______________________________________

Developed by Craig Evans Carnick, a certified financial planner in Colorado Springs, with slight modifications by Tara Siegel Bernard of the New York Times.

Financial Planning Organizations that Require Members to Sign a Fiduciary Pledge