The purest definition of a fiduciary advisor is “putting the client’s interests first and foremost.” The commitment we made on day one.
The focus on advisors living up to fiduciary standards is generating buzz in the financial industry – and the press. We must admit the attention is somewhat surprising to us. Abacus was founded on total transparency, on acting on behalf of our clients and not ourselves. It’s not about you is our natural way of doing business.
The same can’t be said for the industry as a whole. Which is why we were gratified when the Institute for the Fiduciary Standard announced the goal of creating a Best Practices Professional Code of Contact. One of our team members, Jon Robertson, served on the Chairman’s Council that crafted the 12 Best Practices actions – ranging from “everything in writing” to “avoiding compensation in association with client transactions.” See the Real Fiduciary™ Practices document.
Abacus is proud to be one of only 25 firms in the nation to be among the first class of Best Practices Advisors.
Why, you might ask, would we want to formalize publically our fiduciary commitment when these standards are already an inherent part of our culture? Simple. It puts us on record as supporting a higher universal standard that we would like to see adopted by all financial professionals.
The commitment is voluntary – a commitment we have honored since we opened our doors.
Learn how fiduciary principles are commonsense ideas and why a fee-only fiduciary advisor is better for investors.
Download Fiduciary Common Sense (1.4 MB)