When Merely Being ‘Suitable’ is Not Enough

There’s only one true path to making sure your adviser is putting your best interests first — a fee-only 3(38) fiduciary.

(Image credit: PHOTOMORPHIC PTE. LTD.)

In past articles, I’ve addressed the importance of knowing whether your adviser really is a fiduciary, and why not all fiduciaries are created equal. Now, let’s explore another ERISA-based mystery: the so-called “Suitability Standard.”

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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

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Joe Bert, CFP®, AIF®
Chairman and CEO, Certified Financial Group, Inc.

Joe Bert, CFP® is the Chairman and CEO of Certified Financial Group, Inc. and has been in the financial planning profession since 1976. Joe can be heard every Saturday in Orlando, FL on News 96.5 FM at 9:00 a.m. EST hosting On the Money and seen twice weekly on the Fox TV affiliate, WOFL Fox 35. An experienced and knowledgeable financial planning practitioner, he has been affectionately referred to as the "Oracle of Orlando®" by his audience.