What is a fiduciary? In short, an advisor acting under this capacity MUST put the interests of the client first. To most of us, this should be common sense. However, many in the industry wear two hats. One as a financial advisor where they charge a fee for advice and/or management services. The other is where they have the ability to sell you products where they are representing a company or issuer and are paid a commission. Comission-based products present an inherent conflict of interest. Neither is necessarily a better arrangement but the client needs to be aware of how their advisor is compensated on any products or services they recommend.
Your advisor at Virtus Financial Partners operates under a fee-only model. We do not recommend or sell any commission-based investments due to the inherent conflict of interest it presents. Our services and fees are very simple.
Virtus is one of the leading providers of risk-based products (life and disability insurance) to dentists in the country. We are independent in scope and are not incentivized to sell one product over another. Many insurance agents in the industry are captive or are incentivized by one particular company and therefore have an inherent conflict of interest.
When researching what products are suitable to you as well as who you want helping you obtain these products, be sure you are aware of who your agent works for and are there any conflicts of interests in your relationship.