What is a Fiduciary?

 What is a Fiduciary?

At Shoreline Financial Advisors, we are a fiduciary. We encourage you to use this page to learn more about the benefits of working with a fiduciary.

Click Here To View Our Fiduciary Pledge


According to Investopedia, “a fiduciary is a person or organization that owes to another the duties of good faith and trust. The highest legal duty of one party to another, it also involves being bound ethically to act in the other’s best interests.” Essentially, a fiduciary is required to hold their clients’ interest ahead of their own.
The Fiduciary Rule is a new Department of Labor law that requires advisors who work with retirement accounts to hold their clients’ interests above their own. It mainly affects advisors who work for brokers or insurance companies. Advisors who work for an RIA are already fiduciaries.
Not necessarily. If your advisor or broker asks you to sign a Best Interest Contract Exception (BICE), then they may be operating under a commission structure that includes incentives to sell certain products. Read the BICE carefully.
No, it does not cover taxable accounts. The rule only covers retirement accounts. Conversely, an RIA acts as a fiduciary for all of your accounts.

Click Here To learn more about who is managing your accounts.

Retirement Guide Check out our FREE GUIDE on Are You Ready For Retirement?

Click Here To Set Up a Meeting. No Pressure. No Obligation.