Fiduciary Financial Advisor in Portland, OR

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Fiduciary financial advisor in Portland, OR. For those in Portland, OR who lack the time, skill, or inclination to handle their assets and retirement accounts on their own, working with a financial advisor is a great way to help meet their financial goals. That relationship is built on trust, and whether you're planning for retirement, seeking to manage your wealth, or ensuring a stable financial future for your family, you need a financial advisor who you know will be an honest steward of your assets. By working with a fiduciary financial advisor in Portland, OR, you'll gain a partner who has a legal and ethical responsibility to put your own best interests first.

At Correct Capital Wealth Management, our Portland, OR fiduciary financial advisors won't ever recommend a product, investment, or strategy that we don't truly believe in ourselves. For financial advisors that adhere to the fiduciary standard and work with your best interest at heart, reach out to Correct Capital today at 314-930-401(k), contact us through our wesbite, or schedule a meeting with a member of our advisor team.



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Correct Capital Wealth Management's office is physically located in St. Louis, MO, but we serve clients throughout the United States in both personal financial planning and corporate retirement plans.

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What Is a Fiduciary?

A fiduciary is a person or entity that holds a role of confidence and duty when managing assets, monetary matters, or legal matters on behalf of another. Fiduciaries are legally and ethically committed to operate in the best interests of the individual or entity they are representing, often referred to as their "principal" or "beneficiary". This duty of loyalty and duty of care is known as the fiduciary standard.

Typical examples of fiduciaries include:

  • Trustees — People or institutions charged with handling and overseeing assets held in a trust for the gain of beneficiaries.
  • Executors — People designated to oversee the estate and assets of a decedent as per their will or the law.
  • Financial advisors — Professionals who provide financial advice and handle investments for clients, with an responsibility to prioritize the client's financial goals.
  • Corporate directors — Individuals of a company's board of directors who are given making decisions in the best interests of the shareholders.
  • Guardians — People chosen by the court to make decisions on behalf of people under 18 or individuals who are incapable to make decisions for themselves.
  • Attorneys — Legal professionals who are bound by a fiduciary duty to act in the best interests of their clients when managing their cases.
  • Real estate agents — Professionals who help clients in purchasing, selling, or renting properties and are expected to act in the best interests of their clients in real estate transactions.

Good Faith, Duty of Loyalty, and Duty of Care

There are three crucial elements to understanding fiduciary duty:

1. Good Faith

Fiduciaries have an obligation to act in "good faith," which means they interact with their clients or beneficiaries with integrity, with genuine intention, and without any intention to mislead or damage the interests of their beneficiaries. They must consistently act honestly and with the best interests of the clients in mind.

2. Duty of Loyalty

Fiduciaries owe a "duty of loyalty" to the beneficiary, which means they must prioritize the beneficiary's interests ahead of their own. They must steer clear of any conflicts of interest that could compromise their capacity to act exclusively in the beneficiary's best interests. Any conflicts of interest need to be revealed to the client or beneficiary and the advisor needs to still act with the client/beneficiary's interest above their own.

3. Duty of Care

Fiduciaries have a "duty of care" to apply the degree of care, skill, and diligence that a judicious person would use in comparable circumstances. They must make well-informed and thoughtful decisions when overseeing assets or making decisions on behalf of their client. This duty confirms that they strive to safeguard and expand the assets under their care while minimizing risks.

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What Is a Fiduciary Financial Advisor in Portland, OR?

Financial advisors help Portland, OR individuals, families, and business owners achieve their life goals by means of a range of financial services and proposals. These services include investment choices, retirement planning, tax planning, estate planning, portfolio management and more.

Any person in Portland, OR can give themselves the title of "financial advisor," but to be a fiduciary, an advisor must be registered with the SEC, and is legally required to abide by fiduciary duty, and as a result, must put clients’ interests ahead of their own. They must possess credentials and certifications from industry organizations such as the CFP Board and Fi360. Securing and retaining these certifications necessitate persistent education and a rigorous moral standard.

As an example, fiduciary financial advisors with a CERTIFIED FINANCIAL PLANNER™ certification must follow the CFP Board's Code of Ethics and Standards of Conduct to:

  • Act with honesty, integrity, competence, and diligence
  • Act in the client’s best interests
  • Exercise due care
  • Avoid or disclose and manage conflicts of interest
  • Maintain the confidentiality and protect the privacy of client information
  • Act in a manner that reflects positively on the financial planning profession and CFP® certification

Are All Financial Advisors in Portland, OR Fiduciaries?

Not all financial advisor in Portland, OR are fiduciaries. The main reason lies in the fact that financial advisors can function under diverse regulatory frameworks and compensation structures, leading to varying standards of care:

  • Regulatory framework — Financial advisors might be subject to different regulatory frameworks relying on their business model. As an example, Registered Investment Advisors (RIAs) are generally fiduciaries. Conversely, some advisors (for example, those within a broker-dealer model) work under the suitability standard, which mandates investments to be appropriate for clients but doesn't require the same level of fiduciary duty.
  • Compensation structure — The way financial advisors are compensated can influence their fiduciary status. Fiduciary advisors usually charge a percentage fee for their services, making their compensation clear and minimizing conflicts of interest. Other advisors generally receive commissions or different kinds of compensation associated with product sales, which means you can't be sure that their recommendations are 100% for your benefit.

The Prudent-Person Rule

Fiduciary financial advisors must abide by the Prudent-Person Rule, often known as the prudent investor rule. The rule acknowledges that financial advisors can't predict the future or determine which investments will be profitable with 100% certainty, but stipulates that a fiduciary financial advisor go for investments that a sensible person would purchase from an acceptable risk in light of the client's goals and investment objective.

The prudent person rule is an early common law principle, and was eventually unified with the Uniform Prudent Investor Act. Each state may apply their own particular laws. Missouri law, for example, stipulates that fiduciary financial advisors must consider:

  • General economic conditions
  • Potential inflation or deflation
  • Expected tax implications of investments
  • The role that each investment or approach plays within your portfolio
  • Expected profit and appreciation of capital
  • Other assets and resources you have
  • Your needs for readily available funds, income, and preservation of capital
  • An asset's unique relationship or value to you, if any
  • The size and nature of your portfolio, its distribution requirements, and the anticipated duration of your relationship with the fiduciary financial advisor

Fiduciary Duty vs. Suitability Standard: What’s the Difference?

Advisors who operate under the “suitability standard” are only obligated to recommend investments or products that align with your objectives, while financial advisors with a fiduciary duty must operate in your best interest. Here are some key differences:

Fiduciary Duty

  • Legal Obligation: Fiduciary financial advisors are legally and ethically bound to operate in their clients' best interests at all times.
  • Best Interest: Financial advisors must prioritize the client's financial health over their own profit.
  • Comprehensive Care: They must disclose all conflicts of interest, guarantee transparency, and deliver the highest level of care in their advice and actions.
  • Governance: Governed by the Investment Advisers Act of 1940, which requires that investment advisors have a fiduciary duty to their clients.
  • ExamplesInstances: Registered Investment Advisors (RIAs) and CERTIFIED FINANCIAL PLANNER™ professionals.

Suitability Standard

  • Appropriateness: Advisors only need to ensure that their recommendations are suitable for the client’s financial needs and objectives at the time of the transaction.
  • Reduced Care Standard: Advisors can take into account their own interests as long as the recommendations are suitable.
  • Potential Conflicts: Financial advisors may earn commissions from the sale of investment products, which can create conflicts of interest.
  • Governance: Governed by the Financial Industry Regulatory Authority (FINRA), which requires a “reasonable basis” that an investment is suitable for the client.
  • Examples: Some broker-dealers and insurance agents.

Best Interest vs. Reasonable Basis

The Investment Advisers Act of 1940 stipulates that fiduciary advisors must serve in their clients' "best interest," while FINRA Rule 2111 requires that dealer-brokers and other non-fiduciaries only have a "reasonable basis" for their suggestions. Here's a summary of what those terms mean in relation to dealing with a client's investments and financial planning:


Best Interest Reasonable Belief
Definition Requires advisors to act in the client's best financial interest. Mandates advisors to recommend suitable investment products or strategies based on provided information.
Standard of Care Elevated level of care ensuring every action aligns with the client's optimal outcome. Guarantees recommendations are suitable and make sense for the client's situation.
Client-Centric Approach Advisors focus on client's goals, needs, and preferences above their own. Advisors base recommendations on the client's stated financial situation, objectives, and risk tolerance.
Transparency Full disclosure of potential conflicts of interest is necessary. Looser disclosure requirements, as long as the recommendation is proper.
Due Diligence Suggestions based on a comprehensive evaluation of the client's financial situation. Recommendations based on reasonable research and analysis.
Ongoing Duty Unceasing duty to act in the client's best interest, requiring regular reviews and updates. Emphasizes the appropriateness of advice at the time of the recommendation, with less focus on ongoing oversight.
Conflict of Interest Must reveal and manage conflicts openly, ensuring clients are aware of potential biases. Conflicts are less tightly controlled, as long as the recommendation remains appropriate.
Long-Term Commitment Advisors have a ongoing obligation to oversee and adjust the client's financial plan. Regular reviews are suggested, but the focus is on the suitability of initial recommendations.

Benefits of Working with a Fiduciary Financial Advisor in Portland, OR

Choosing to partner with a fiduciary financial advisor in Portland, OR provides an array of benefits that can profoundly affect your monetary health:

  • Fiduciary financial advisers are obligated to act in your best interest and maintain ethical standards
  • Total disclosure of relevant materials and facts and full transparency with issues like risks, fees, and potential conflicts of interest, allowing you to make the best decisions for you and your Portland, OR family
  • Handle investments on your behalf by employing their expertise to develop and handle a diversified portfolio that aligns with your goals and strategies
  • Comprehensive financial planning and a full approach to your financial well-being, evaluating all facets of your financial life to create a custom approach
  • Ongoing monitoring and guidance to guarantee your financial tactics and investments stay aligned and that you can adjust to any unexpected situations the market or life throws your way
  • Minimized risk with sensible and responsible investment choices taken by thoroughly assessing the risk tied to each investment and tailoring your portfolio to align with your risk tolerance
  • Peace of mind that your best interests are being cared for by skilled financial advisors
  • A prolonged relationship with a fiduciary financial advisor that understands your financial goals change over time, and life conditions change

What Financial Planning Services Do Fiduciary Advisors Offer?

At Correct Capital Wealth Management, our all-encompassing financial planning services are created to provide you with a holistic approach to meeting your financial goals. Our team of fiduciary financial advisors in St. Louis operates diligently to comprehend your unique financial situation and tailor strategies that suit your life aspirations.


Tailored Financial Roadmap

We begin by performing a thorough analysis of your current financial status, including income, expenses, assets, and liabilities. This helps us create a personalized financial roadmap that addresses your short-term needs and long-term objectives.


Investment Portfolio Management

We create personalized strategies to balance your portfolio, balancing your risk tolerance with your time horizon. Our team continuously monitors and adjusts your investments to match your financial goals, ensuring that your portfolio remains robust and adaptable as market conditions change.


Retirement Strategy

Planning for retirement is a foundation of our comprehensive financial planning. We assist you in navigating the complexities of retirement accounts, social security benefits, and income strategies to ensure you can retire securely and safely.


Tax Planning

Effective tax planning ensures more of your hard-earned money out of Uncle Sam's hands. Our advisors are well-versed in tax laws and strategies that can reduce your tax liability and enhance your overall financial health.


Estate Planning

We also provide expert guidance on estate planning to assist you in safeguarding your legacy. From wills and trusts to estate tax strategies, we make certain your assets are distributed according to your wishes while reducing tax burdens.


Continuous Oversight

Financial planning is not a one-time event but a continuous process. We deliver ongoing monitoring and periodic reviews to adjust your financial plan to any alterations in your life circumstances or economic environment.


Client-Centric Approach

At Correct Capital, our approach is highly client-centric. We take pride in building lasting relationships based on trust, transparency, and personalized service. Your financial well-being is our highest priority, and we are committed to helping you reach your financial goals with integrity and excellence.

Other services we offer in Portland, OR include:


Hire Correct Capital as Your Portland, OR Fiduciary Financial Advisor

Selecting a financial advisor in Portland, OR with a fiduciary standard is crucial to ensure your money is being put to use how you need it to be. At Correct Capital Wealth Management, we are honored to be fiduciary financial advisors who prioritize the financial success and peace of mind of Portland, OR residents and business owners alike. Our team is comprised of CERTIFIED FINANCIAL PLANNER™ (CFP®) professionals and we are a Registered Investment Advisor (RIA) with the knowledge and qualifications needed to guide you on your financial journey. We offer all our clients our I.O.U promise: all of our advice will be independent, objective, and unbiased.

Reach out to us now at 314-930-401(k) or contact us through our website to arrange an appointment and discover how we can aid you achieve your financial goals in Portland, OR.

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