Broker vs Fiduciary vs Hybrid Financial Advisor
In this post I’ll be covering the very important difference between a Broker, Fiduciary, and Hybrid financial advisor.
Let’s first define each type of advisor:
Broker
• An order taker that does not look at your long term goals.
Fiduciary
• Looks at your entire financial world and has your best interest before anything else.
Hybrid
• Can take orders and help with your long term plan
The main concern when working with a Hybrid Advisor is that they can switch from having your best interest to their best interest in the same conversation. This change in best interest happens without you “the client” even being aware of it.
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