What is a Fiduciary?

What is a Fiduciary?

Northstar Advisors act as fiduciary for many of our clients. A Financial Advisor who acts as a fiduciary has a legal and ethical responsibility to act in the best interest of his or her Advisory Clients. A fiduciary is entrusted to act on behalf of another party, owing a fiduciary duty, the highest legal duty one party can owe to another. According to the Securities and Exchange Commission, fiduciaries owe their clients a duty of undivided loyalty and utmost good faith (Source).

Northstar Investment Management happily offers both fiduciary and brokerage services to our clients. Advisors at Northstar take great care in explaining the two services which have key differences including investment discretion, cost structure, and applicable regulatory framework. Northstar is proud to have built our business by putting clients’ best interests first. Depending on individual circumstance and preference, brokerage, fiduciary or a hybrid approach may be preferred. We love to educate while helping our clients achieve financial goals. Please contact our office if you have questions about these services.

To hear more about how fiduciary investment management can fit into your financial plan give us a call at (906)226-6056 or email us at Daniel.LaBar@northstarinvestment.net.