Is Your Financial Advisor Treating You Fairly

In these days of the Facebook investment scandal, Ponzi Schemes, Financial Fraud, Hot Investment tips, and Wall Street Toxicity how are you to be sure that you are protected to the highest legal standard from financial abuse?

It makes no difference if you do business with Morgan Stanly Smith Barney, Merrill Lynch, LPL Financial, Wells Fargo Advisors, Edward Jones, Ameriprise, Raymond James, Lincoln Financial Network, Waddell & Reed, Royal Alliance, Northwestern Mutual, MetLife or any other bank, insurance company or investment advisor, you need to be sure that you are protected under the highest legal safeguards.

How to Help Protect Yourself to the Highest Standard

Do you go with a “name brand company”, look at the best company advertising in the media or go with the recommendation of your buddy or uncle Joe?

Lets keep it simple! Every investment advisor that you work with should be able to sign a simple statement stating that the advisor and his/ her company will always keep your financial interest foremost at all times.

To be sure that you are protected to the highest legal safeguards know as the “Fiduciary Standard”, please print an Advisor Oath and have your advisor sign it. The five simple parts of the oath are:

•   Put the client’s best interests first at all times

•   Act with prudence, with the skill, care, diligence and good judgment of a professional

•   Do not mislead clients-provide conspicuous, full and fair disclosure of all important facts

•   Avoid conflicts of interest

•   Fully disclose and fairly manage, in the client’s favor, unavoidable    conflicts.

If your advisor will not sign the oath you may well have the wrong advisor or the advisor works at a firm that does not have you best interest at heart. In either case you should change advisors!

To find an advisor that will sign the oath, go to the website of The National Association of Personal Financial Advisors (NAPFA).

About the author

Michael Chamberlain, CFP®

Hello. My name is Michael Chamberlain CFP®, the principal of Chamberlain Financial Planning and Wealth Management. Our firm is “fee-only” with offices in Sacramento, Campbell and Santa Cruz California. “Serving clients from the mountains to the sea.”

Our mission is to help clients realize their full potential today while planning for an abundant tomorrow through comprehensive financial planning and collaborative decision-making.

As an experienced investment and planning professional, I have had the privilege of being interviewed by and contributing to hundreds of articles in such publications as Money Magazine, Financial Planning Magazine,,, Nerdwallet,, Yahoo Finance and more.

I hope that you spend some time at the FiGuide site and learn more about the financial matters important to you. To learn more about our firm, visit our website or give us a call at 800-347-1340.

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