What Is a Fiduciary Financial Advisor and Why It Matters for NYC Families
Not all financial advisors are required to act in your best interest. Understanding the fiduciary standard is one of the most important steps NYC families can take when choosing a wealth advisor.
A fiduciary financial advisor is legally required to act in your best interest at all times. This is different from a broker or non-fiduciary advisor, who only needs to recommend products that are "suitable" for you — even if better or lower-cost options exist. For families in New York City navigating complex financial decisions, working with a fiduciary can make a significant difference in long-term outcomes.