What is a Fiduciary?
Fiduciary advisors are legally required to put YOU first
The Bogart way
Bogart Wealth is a fee-only fiduciary firm. That means we get paid by you; we don’t accept commissions from third parties to promote or sell their products. Bogart Wealth is also a registered investment adviser (RIA). That means Bogart advisors—or investment adviser representatives, to use the official term—are legally required to put their clients’ interests first.
Others may not meet this standard
The terms “financial advisor” and “financial professional” don’t have a standard definition and investment firms can be structured differently. For instance, advisors at large Wall Street firms tend to be registered as representatives of the firms’ brokerages; these advisors follow different rules than Bogart Wealth. These financial advisors may not be fiduciaries.
Different rules for Wall Street
Representatives for broker-dealers follow an SEC policy called Regulation Best Interest—any product they recommend must be in your best interest at the time of the recommendation, but conflicts of interest are allowed, as long as they’re disclosed (often in the fine print). Some advisory firms hold dual registrations, meaning their advisors may be able to say they are fiduciaries, but pick and choose when the designation applies.
What to look for in the fine print
There’s a simple way to find out whether an advisor is legally obligated to act as a fiduciary: Look at how they’re registered. Advisory firms must disclose how and if they’re registered and regulated. This information should be provided on their website; you can also look advisors up on BrokerCheck. Keep in mind, the financial services industry boasts informal designations that are separate from legal regulations. Learn more.
The Bogart Wealth difference
Say you want to invest in a mutual fund. Fund A and Fund B both address your needs, but Fund B pays a commission to the advisor who recommends it. That commission could impact your returns over time. A Wall Street advisor who follows Regulation Best Interest could simply recommend Mutual Fund B and pocket the commission, so long as they disclose everything in the fine print. At Bogart Wealth, we don’t accept commissions; your needs are the only thing we consider when making a recommendation.
Independent advice you can trust
In addition to putting you first, Bogart Wealth Advisors specialize in an array of complex and sophisticated financial issues. From equity compensation (including net unrealized assets) to pensions, retirement income planning to leaving a charitable legacy, our Advisors can help you get (and stay) on track to reach your goals. Start putting yourself first.
IMPORTANT DISCLOSURE INFORMATION
Registration of an adviser does not imply a certain level of skill or training. Please remember that past performance is no guarantee of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Bogart Wealth, LLC [“Bogart”]), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained on this page serves as the receipt of, or as a substitute for, personalized investment advice from Bogart. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. No amount of prior experience or success should be construed that a certain level of results or satisfaction will be achieved if Bogart is engaged, or continues to be engaged, to provide investment advisory services. Bogart is neither a law firm nor a certified public accounting firm and no portion of the content should be construed as legal or accounting advice. A copy of Bogart’s current written disclosure Brochure discussing our advisory services and fees is available for review upon request or at www.bogartwealth.com. Please Note: Bogart does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to Bogart’s web site or blog or incorporated herein, and takes no responsibility for any such content. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly. Please Remember: If you are a Bogart client, please contact Bogart, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services, or if you would like to impose, add, or to modify any reasonable restrictions to our investment advisory services. Unless, and until, you notify us, in writing, to the contrary, we shall continue to provide services as we do currently. Please Also Remember to advise us if you have not been receiving account statements (at least quarterly) from the account custodian.
IS A BOUTIQUE RIGHT FOR ME?
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