Securities fraud robs individuals and families of their livelihood, destroying financial stability and future plans. However, one group of victims is commonly overlooked: that of the perpetrator’s spouse and their family. Many spouses and children of those involved in financial crimes are living a lie, and do not know that such illegal acts are happening. Once the truth is revealed they are commonly ostracized and left without resources to pay for basic living expenses after their joint resources were seized by the government.
Are you on the lookout for a trusted financial advisor? But isn’t that what everyone is looking for? Also, won’t every financial advisor say they are trustworthy in an effort to gain your business? Then how do you go about securing the right financial advisor for you? Here are steps you can take to help you filter through the options you will encounter. Hopefully, your reward for this due diligence will be finding a financial advisor you can have confidence in.
As a business owner, you have to put your trust in a lot of people for your company to run smoothly and successfully. You build relationships with your employees and expect them to do their jobs well and act in good faith. You might not be prepared for your fiduciary to violate your trust.
A fiduciary is a person or group of people who are responsible for controlling and taking care of assets on behalf of someone else. This is the highest level of trust both personally and legally. The fiduciary must act in the best interest of the beneficiary. For example, a business owner could appoint a fiduciary to manage investments. No matter the reason for a fiduciary, the relationship is built on trust and loyalty.