What Makes a Fiduciary Financial Planner Different?
A fiduciary financial planner is legally and ethically bound to act in your best interest — not their own. This distinction matters enormously when you're making decisions that will affect your financial security for decades.
The Legal Standard
Fiduciary advisors are held to a higher legal standard than non-fiduciary advisors. They must:
- Prioritize your interests over their own
- Provide complete disclosure of fees and conflicts
- Recommend the most appropriate solutions for your situation
- Avoid self-dealing
How This Protects FERS Employees
Federal employees face unique retirement planning challenges. The decisions you make about your FERS pension, TSP, Social Security, and FEHB coverage are complex and largely irreversible. Working with a fiduciary planner ensures you receive advice that is genuinely designed to maximize your retirement income.
Questions to Ask a Potential Advisor
Before working with any financial advisor, ask:
- Are you a fiduciary at all times?
- How are you compensated?
- Do you receive commissions from any products you recommend?
- Are you a specialist in FERS retirement planning?
The Spivak Financial Group
Stuart J. Spivak and the team at The Spivak Financial Group are fiduciary advisors who specialize in FERS retirement planning. We serve federal employees across the United States via phone and Zoom. Contact us for a free consultation.