A fiduciary puts a client’s interests first. The definition of a fiduciary is: a person to whom property or power is entrusted for the benefit of another. Unfortunately, the commissioned brokerage business is not currently held to a fiduciary standard, so it behooves investors to understand the differences between a commissioned salesperson and a fiduciary. Mark and Tom discuss three ways advisors get paid: Commissioned, Fee-Based, and Fee-Only. Fee-only Advisors are true fiduciaries.

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