What Form 5495 Fiduciary 2017-2023

Instructions and Help about What Form 5495 Fiduciary

Everyone bill that's been here for money evolution calm in today's video I'm gonna be helping you to answer the question what is a fiduciary more specifically I'm gonna be talking about some of the differences between a fiduciary and a financial adviser so this is something that's obviously been getting a lot of attention here over the last couple of years especially with the Department of Labor trying to create their definitions for a fiduciary standard so hopefully this video gives you some some great ammunition to ask some of the right questions as you're maybe exploring some options for yourself and for your portfolios so first of all let's talk about a definition here so I went out on the internet lots of different topics and information pertaining to this but one definition I found on the internet said that only fiduciary advisors are legally and ethically required to put your best interest before that of their own another analogy that I saw that it kind of made sense to a degree was imagine you're going out to buy a new suit with a financial advisor the salesman is only required to sell you a suit that fits whereas a fiduciary advisor is required to not only sell you a suit that fits but also that looks good on you so when you when you see those kinds of definitions and hear that analogy then it might become very clear that you need to find a fiduciary financial advisor one of the reasons that the fiduciary has been getting a lot of attention here is what we're trying to do I think what the industry is trying to do hopefully is to eliminate or at least reduce as many of the potential conflicts of interest that might exist...