A fiduciary is a person or entity that is legally and ethically bound to act in the best interests of another party, known as the beneficiary or principal. The fiduciary relationship is characterized by a high level of trust and confidence, and the fiduciary is expected to prioritize the interests of the beneficiary over their own.
Financial advisors who are fiduciaries have a legal obligation to act in their clients’ best interests when providing investment advice or managing their portfolios.
A fiduciary has a legal obligation to act solely in the best interests of the beneficiary and to disclose conflicts of interest. They must act with the utmost loyalty and good faith when making decisions on behalf of the beneficiary.
Fiduciaries are expected to exercise prudence and care in managing the assets or affairs of the beneficiary. This means making informed and responsible decisions based on the beneficiary’s objectives and risk tolerance.
Our advisors are legally and ethically bound to act in the best interests of their clients as fiduciary advisors. Our fiduciary duty requires us to prioritize clients’ interests over our own and to avoid or fully disclose conflicts of interest, so clients receive a high level of care and attention.
Fiduciaries must exercise prudence, loyalty, and full disclosure when providing advice or managing the client’s assets. This high standard of care means they must act with utmost integrity and make recommendations that are in the client’s best interest, even if it may not be the most profitable option for the fiduciary.
Virtue Asset Management is composed of fee-only financial advisors. We are compensated solely by the client with neither the advisor nor any related party receiving compensation that is contingent on the purchase or sale of a financial product.
Neither Members nor Affiliates may receive commissions, rebates, awards, finder’s fees, bonuses or other forms of compensation from others as a result of a client’s implementation of the individual’s planning recommendations. We charge an asset-based advisory fee that we disclose in our Form ADV and client agreements, and we provide periodic reporting to help clients understand the fees they pay.