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Suitability vs. Fiduciary



When an investment advisor (Advisor) is acting in a fiduciary role, that advisor is giving their client the best advice or service for that client given a set of circumstances.


On the other hand, when a different type of financial professional (Broker or insurance agent) is acting in a role where they only have to live up to "suitability", that professional is presenting an investment product to the you that is "suitable", or at minimum, not "unsuitable", and this is a much lower bar.

Think of it this way; Advisors, by law, have to do what's best for you, while Brokers and Agents only have to do what's "not worst".

One of the biggest mistakes an investor can make is to automatically believe a Broker or an Agent is acting in the best interest of that client. So, while that may be true, neither is obligated to do so by law.


Even though insurance agents and stock brokers are very different from Investment Advisors, they do use similar terms like 'financial planner', 'wealth advisor' and 'financial advisor' among other terms. .

To sum up, Investment Advisors are required by law to manage your account to a much higher level of accountability than an insurance broker, a stock broker or a financial planner.


Bryant Group Advisors, Inc. is a registered Investment Advisor with the office of the Attorney General in the state of New York.

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