Registered Investment Advisors, like Winthrop Partners have a fiduciary duty to clients; broker-dealers just have to meet the less-stringent suitability standard, which doesn’t require putting the client’s interests ahead of their own.
“A fiduciary is a person or organization that acts on behalf of another person or persons, putting their clients’ interest ahead of their own, with a duty to preserve good faith and trust. Being a fiduciary thus requires being bound both legally and ethically to act in the other’s best interests.” Investopedia
Less than 1% of the approximately 800,000 individuals that hold themselves out as Wealth Mangers meet the stringent Fee-Only Fiduciary Standard. Brokers, bankers & insurance salesmen are not held to the same standards as Fee-Only Fiduciaries.
A broker-dealer follows the suitability standard: Investment choices must be suitable for the client, but can still be more beneficial to the broker than the very best option; the broker’s primary responsibility is to their firm, not their client Investopedia
Remember, when selecting a wealth manger, if you want to be sure that they are legally and ethically bound to work in only your best interest, ask if your wealth manager is a Fee-Only Fiduciary.
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Why Winthrop Partners
Individual investments and markets fluctuate over time. As a fiduciary serving Upper Makefield, PA we are bound ethically to act in the client’s best interests. This process provides a framework for making decisions collaboratively and monitoring the outcome of those decisions over time. Each step involves interaction between our team, the client and outside professionals if needed.
We take the time to actively listen and ask the right questions. By understanding your unique situation and financial goals, we develop a customized and comprehensive portfolio.
Our clients are our priority. We negotiate for you, ensuring that your best interests remain at the forefront every time.
Though we hold 150 years of combined experience, our progressive mindset keeps our eyes fixed on the future.
We receive one clearly aligned fee, with no commission or third party fees influencing our recommendations.
We hold the experience, and resources necessary to manage important decisions impacting your portfolio, ensuring transparency and clear communication every step of the way.
Fiduciary Upper Makefield, PA
Founded in 2015, Winthrop is a fee-only fiduciary operating as a registered investment advisor in Buffalo, NY, Pittsburgh, PA and Doylestown, PA. Our commitment to our clients is that we will always be on their side. We will never try and sell products or take commissions from others. We act exclusively in our client’s best interest.
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