Fiduciary Financial Advisor – Client Service Rep, Wealth Management

Fiduciary financial advisors commonly work for RIAs. Certified Financial Planners (CFPs) are also generally fiduciaries, but make sure your CFP is acting as a fiduciary before starting a business with them. Financial advisors who work for brokerages generally are not fiduciaries.

So a fiduciary financial advisor can buy and sell securities in your account on your behalf without needing your express consent before each trade. Because fiduciaries have this discretionary…

When a financial advisor is a fiduciary, he or she must act in the clients’ best interest at all times. (Getty Images) Fiduciary has become a hot button word in the financial industry.

This means, if someone works as a financial advisor with a client who has a taxable brokerage account and an IRA, the same advisor is only a DoL fiduciary for the IRA and not for the other account.

Fiduciary Financial Advisor

With a fiduciary financial advisor, you’ll know that the person managing your money must make decisions in your best interest. In general, fiduciary financial advisors tend to have fewer conflicts of interest, and they’re required to disclose any potential conflicts of …

What makes a good fiduciary advisor?

Here are the top reasons why a fiduciary financial advisor is a good hire as your personal and expert financial advisor: Fiduciary Advisors Seek the Best Prices and Terms Fiduciaries Provide Relevant Facts and Education to Their Clients Fiduciaries Avoid Conflicts of Interest and are More Trustworthy

What Makes a Good Fiduciary Advisor? A good investment advisor can make financial decision-making a hassle-free experience-and help you develop the peace-of-mind to sleep well at night regardless of what happened in the stock market during the day. Since investment advice comes in many flavors, the challenge is to find the one that’s the right fit for you.

Here’s a look at a few good reminders: 1. Have your house in order first! You have to be able to lead yourself before you can lead your team.

What Makes A Financial Advisor A Fiduciary? The job of a financial advisor is to help individuals achieve their goals by advising them on investing, budgeting, and saving, among other things. Because financial advisors guide the individual in their financial decisions and investments …

Advisors who put their clients’ best interests first would clearly choose the cheaper of the two options. An advisor who doesn’t follow that standard has an obvious incentive to choose the higher-fee, commission-based investment. It’s easy to find stories about clients who have been hoodwinked by unscrupulous financial advisors.

For that to be the case, an advisor must obtain adequate information about the investment as well as the customer’s financial situation before making the recommendation. The most common difference…

Ultimately, a fiduciary operate without conflict and with one driving force: the clients’ best interests. As this sentiment among advisors grows, it will continue to serve as one of the most…

The term “fiduciary” is a good word to hear when you’re searching for a financial advisor. An advisor that calls themselves a fiduciary seeks to minimize conflicts of interest, be transparent and live up to the trust placed in them.

What’s the difference between an advisor and a fiduciary?

The most common difference between “a fiduciary and an advisor acting under a suitability standard is the decision-making process,” George says. Before making a recommendation, fiduciaries undergo a prudent process designed to determine their client’s best interest.

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). Typically, a fiduciary prudently takes care of money or other assets for another person.

A fiduciary advisor is a financial advisor who must, by law, act or offer advice that would benefit the client. You might have seen financial advisors who say they “work like a fiduciary advisor,” or you might have seen those who “act” like a fiduciary. This really is the difference between a fiduciary advisor and other types of financial advisors.

Registered Investment Advisors (RIAs) fall within a specific class of financial advisors who can provide clients with financial advice but must do so by abiding by their fiduciary duty. Under the Fiduciary Standard, an RIA’s fiduciary duty means that they are required to act in the client’s best interest 100% of the time.

The most common difference between “a fiduciary and an advisor acting under a suitability standard is the decision-making process,” George says. Before making a recommendation, fiduciaries undergo…

Asset Management v. Advice: An advisor that is solely a Registered Investment Advisor (RIA) that has access and control over your financial accounts and who manages your investments is a fiduciary. A fiduciary is in a trusted position.

First, let’s look at what an investment advisor fiduciary is. 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 also involves being bound ethically to …

For example, insurance companies, banks, and registered investment advisors (most advisors that are investment managers fall in the latter category). However, it is clause (A) is the primary difference between an advisor that is an investment manager and one that is only a fiduciary. Investment managers can manage, acquire, and dispose of plan assets.

One primary difference between investment advisors and financial advisors who work as brokers is that investment advisors are held to the fiduciary standard, while …

Client Service Rep, Wealth Management – Northern Trust Corp.

The key responsibilities of the role include:

  • Under direct supervision, the Wealth Management Client Service Representative is responsible for supporting relationship management teams through processing various administrative and operational activities related to client investment, banking, and fiduciary and advisory products.
  • Primary activities will include processing wires, ACH’s, transfers from investment to banking and vice versa, internal transfers, and check issuance. Of critical importance is the Client Service Representative’s adherence to the required banking, investment, and trust guidelines and procedures involved with requested activities.
  • Executes client account servicing activities as requested by partners within appropriate time frames, including but not limited to the processing of wires and fund transfers, bill payment, cash movement, gift processing, updating client databases, preparing required documentation, opening, and closing accounts, meeting preparation, maintenance of accurate and complete account records, imaging of documents, and researching of client issues.
  • Develops a strong understanding of required steps involved with each request, communicating with relationship management and operations teams as appropriate to obtain the necessary information to properly execute the requested activity.
  • Addresses the requirements of each activity in a timely fashion and strict adherence with Northern Trust and Wealth Management Risk Management and Compliance guidelines and procedures, promptly escalating any issues and/or concerns to management.
  • Reviews and maintains client records and information on all applicable client servicing systems, ensuring appropriate and required documentation is collected and imaged.
  • Develops a strong knowledge of the various business applications critical to client and account servicing, including on-line tools.
  • Where appropriate, strives to identify service efficiency and delivery enhancements, as well as process improvements
  • Keeps abreast of new or existing Northern Trust and Wealth Management products, services, and compliance requirements.

The successful candidate will benefit from having:

  • 2-3 years experience in financial and/or client servicing experience preferred.
  • Knowledge of investment, banking, and/or personal trust and advisory operations, products, and services usually acquired through related work experience is preferred to assist relationship management teams in processing clients’ servicing needs.
  • Previous experience in money movement in a banking environment is strongly preferred.
  • Strong analytical, problem solving, and organizational skills are required to identify, research and/or resolve requests, as well as to manage conflicting priorities and workflow under tight deadlines.

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