What Is a Fiduciary?

What is a fiduciary? This is a question that Richard Oring is frequently asked by his clients at New Century Financial Group. When looking for an advisor, it's an important question to ask.
A fiduciary is an individual or organization legally required to manage a person's assets for that person's benefit, not their own. Being a fiduciary means a financial advisor is held to a higher standard when making decisions for his or her clients.
Fiduciaries must follow "duty of care" and "duty of loyalty" - Rich explains what these terms mean and entail.
It's also important to understand how your financial advisor is compensated - are the commission only, fee only, or fee-based (a combination of the two)?
The important thing to remember when looking for a financial advisor is to ask questions. This can be a confusing field, but your future is too important to simply make assumptions. And a good financial advisor will make sure your questions are answered.
You can always reach out to Richard Oring and his team at New Century Financial Group. You can schedule an appointment from their website: https://ncfg.com/
Or you can reach out directly to Rich: ro[email protected]
Or call him at (609) 924-2049, extension 126.