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ABOUT


The advisors of Chamberlain Financial Planning and Wealth Management are fiduciaries and abide by the following Fiduciary Oath: 

  • Put the client’s best interests first
  • Act with prudence, that is, with the skill, care, diligence and good judgment of a professional
  • Do not mislead clients – provide conspicuous, full and fair disclosure of all important facts
  • Avoid conflicts of interest
  • Fully disclose and fairly manage, in the client’s favor, unavoidable conflicts

 When selecting a financial advisor, most consumers assume that the people who provide investment advice are required to act in the clients’ best interest. But that is NOT always the case. Unlike other professions, such as law and medicine, anyone can call himself an investment or financial advisor even if they are really a salesperson.

Under financial laws and regulations, there are two standards of consumer protection. One set is for people who sell financial products such as investment brokers and insurance company representatives.

These salespeople are contractually obligated to place the interests of their employer ahead of the interests of the clients. They operate under the “Suitability Standard” and are regulated by FINRA, which is an industry self-regulatory organization now ruled by a board of governors made up of the majority of industry insiders.

The other set of rules is for those who are registered as investment advisers with the federal Securities and Exchange Commission (SEC) or comparable state regulators. Registered Investment Advisers are true “Advisors” and do not sell products. These advisors operate under the Fiduciary Standard and are legally obligated to place your interests first ahead of all else.

No mater if you select our firm or another firm for advice, we strongly recommend that you insist that any advisor you hire is willing to subscribe to the above oath. If they won’t sign the oath, you owe it to yourself to ask why you would trust your financial future to their care.

Please call us if you would like more information about why it is so vitally important to work with a fiduciary when you seek advice. We would be delighted to discuss this subject with you further.