Why is working with a “fiduciary” adviser so important?
Kelley Pyles and Royal Fund Management offer independent fiduciary responsibility through an Investment Advisory Representative Licensure. Therefore, we are obligated, as fiduciaries, to act in the best interest of our clients. A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties (person or group of persons). An adviser who is not a fiduciary, only needs to ensure that their recommendations are “suitable” for you. They could suggest an investment that provides them with a higher commission that doesn’t perform as well.
As a Fiduciary Adviser, we are legally bound to put the interest of our clients ahead of ourselves. We do not get paid more to select one investment over another. We do not receive commissions (or loads) when selecting investments for our clients. We are fee-only which means we get paid more if, and only if, your account value increases, so we’re on the same side of the table as our clients.
Kelley is a dually licensed adviser and can provide insurance solutions as well as investments. Dually licensed advisers are those who have an insurance and a securities license, sometimes referred to as a “total adviser”. They have the ability to offer solutions from both the insurance and securities industries. This may be advantageous to some clients as they can complete their planning with one adviser instead of many. In addition to their insurance license, they will either be a Registered Representative operating under a suitability standard or an Investment Adviser Representative who is obligated to act in the clients best interest, operating under a fiduciary standard.
Kelley is also a CERTIFIED FINANCIAL PLANNER™; therefore, she has a fiduciary responsibility to clients in all aspects of the planning process. Please note, we do receive commissions for insurance products (non-investment products).
Today anyone can call themselves an insurance or financial adviser. But the reality is that while many of these individuals may be able to sell you financial-related products, not all advisers are created equal.
If you’d like to work with a fiduciary adviser, call Kelley today at 352-751-4590 to schedule a free no-obligation consultation.