What is a Fiduciary?

Our primary commitment in all our work is for your best interest to always come first. The fiduciary standard of care by the CFP Board “requires that a financial adviser act solely in the client’s best interest when offering personalized financial advice”. We take our fiduciary role seriously and view it as an essential component of working together with you.

A Fiduciary is one who has assumed the responsibility of acting on behalf of and in the highest and best interest of another. This role is assumed to be one that will foster a relationship of trust and confidence between the individual or entity and the Fiduciary who serves that individual or entity.

In the context of the financial services industry, and in particular the Registered Investment Advisory Firm associated persons, the role of Fiduciary is not an aspiration, but a requirement, a Practice Standard. The staff of Erickson Advisors are required in all efforts of analysis, advice, and service to put the interest of the client ahead of any self-interest.

Fiduciary standard vs simple ethical behavior

While acting under a Fiduciary Standard, most daily activities of the Registered Investment Advisory Firm associates may not differ from those of Brokers who sell investments, but the higher standard required of Investment Advisors means that our associates must be governed only by what is best for the client, and not be swayed by offers of higher commissions or better payouts.

We believe that total transparency regarding fees and compensation to our associated persons reduces the potential for a conflict of interest that may arise under a lower standard of conduct and disclosure.

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