LPT: In the US, ask your financial advisor if they are also a fiduciary adviser. If the answer is no, keep in mind that they are not legally obligated to help you make financial decisions that are in your best interests.

Read the Story

Show Top Comments

Hello and welcome to r/LifeProTips! Please help us decide if this post is a good fit for the subreddit by up or downvoting this comment. If you think that this is great advice to improve your life, please upvote. If you think this doesn’t help you in any way, please downvote. If you don’t care, leave it for the others to decide.

keepthetips

No, let’s be real, if they say no, you walk out.

Character_Credit

Oh yeah, my financial advisor. Who I definitely have. And exists. I’ll be sure to ask them.

lunelily

This is good advice. Note that if they are registered with the SEC they are required to be a fiduciary.

mynameisaugustwest

Play attention when reading advisor vs adviser

Maximum-Recover625