Asking a financial advisor, “Are you a fiduciary?” sounds like a smart way to protect yourself—but the answer may not tell you nearly as much as you think. In this episode of Wealth Beyond Work, we explain why some advisors can truthfully call themselves fiduciaries while still earning commissions from certain recommendations. We break down the differences between fee-only advisors, broker-dealers, and insurance professionals, including how each may be compensated and where potential conflicts of interest can arise.
We also examine why titles and credentials don’t always reveal how someone operates—and why an annuity recommendation paying a substantial upfront commission deserves more scrutiny than a simple yes-or-no fiduciary question provides. Before hiring an advisor or purchasing a financial product, you need to understand who they work for, how they get paid, and whether they are required to act in your best interest throughout the entire relationship. You’ll leave with practical questions you can ask to better evaluate any financial professional before trusting them with your retirement.
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