Fiduciary, Attorney, Sherry discussed on Investing Simplified

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And had to do with quotas this person who does this person oh his duty his fiduciary duty now fiduciary duty is like an attorney client that's that's an it fiduciary relationship doctorpatient as a fiduciary relationship choice that kind of relationship where the fiduciary has the duty to look after the best interest of the client and not necessarily the company that the fiduciary worked for the wall and add up that's that's the issue and typically speaking the traditional person who is licensed as just a stockbroker is ordinarily and has been i think reestablish even more so now had a duty to the company before the cluster mer uh and that raised some real issues of course because then that that would influence perhaps there the type of recommendations that they would make to their customer however i mean i think i but i don't think it's fair to say that that made all brokers bad or all brokers looking after only their best interest for their country's best interest but it all kind of open that door so so that's you know and and just like any other industry there are there are bad eggs in in all of the basket somewhere and and the fiduciary responsibility is one that you know is usually that the one that subjects you to get sued if you if you a bad advice or or improper advice by uh because you were looking after own interest as opposed to the interests of uh of your client uh lawyers have a fiduciary responsibilities to their clients and so uh so that's kind of the one side of it and i can't tell you all the list of you know different certifications and things but i do know that that that what chuck does is what i think he's called of you know he's a fight fire fight do sherry and he's a financial planner and he's got in all sorts of letters behind his name uh but i know that he has the fiduciary relationship so it's is his duty to to try to give you here's the best advice and that that's for in your best interest not in his financial interest so uh that's that's the big difference there are.

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