When I provide investment advice to you regarding your retirement plan account or individual retirement account, I am a fiduciary within the meaning of Title I of the Employee Retirement Income Security Act and/or the Internal Revenue Code, as applicable which are laws governing retirement accounts. The way I make money creates some conflicts with your interests, so I operate under a special rule that requires me to act in your best interest and not put my interest ahead of yours.
Under this special rule’s provisions, I must:
- Meet a professional standard of care when making investment recommendations (give prudent advice);
- Never put my financial interests ahead of yours when making recommendations (give loyal advice);
- Avoid misleading statements about conflicts of interest, fees, and investments;
- Follow policies and procedures designed to ensure that I give advice that is in your best interest;
- Charge no more than is reasonable for my services; and
- Give you basic information about conflicts of interest.
