The Money Knight

Ep 57: What Is a Fiduciary?

January 6, 2022

You’ve probably heard the word fiduciary but what does it actually mean and what’s the importance of this title? A fiduciary has to put the needs of their clients before their own. They must operate with full transparency.

Not all financial professionals are held to this standard, so it’s important to know whether your advisor is a fiduciary. On today’s episode, we’ll explore why it’s an important standard for you to consider when choosing a financial advisor. Wade will also answer two mailbag questions about part-time work in retirement and mortgage payments.

 

What we discuss on this episode: 

1:39 – Does Wade have any resolutions for 2022?

3:16 – What is the definition of a fiduciary?

6:19 – A fiduciary can help you customize retirement

9:17 – Is it OK to work with an advisor that is not a fiduciary?

10:59 – Mailbag: “Should I work full-time for 2 more years or part-time for 4?”

12:28 – Mailbag: “Should we pay our mortgage twice a month or once a month?”

 

More Resources: 

Risk Survey: https://www.chessmanwealth.com/#survey-section

Retirement Planning Quiz: https://www.chessmanwealth.com/retirement-planning-quiz/ 

 

Important Links:

Chessman Wealth Website: https://www.chessmanwealth.com

Call: 214-572-2120