Unless your advisor is actually registered
as an investment advisor, he or she will not be bound by a fiduciary
duty to you. When selecting an advisor, make sure that advisor
is on your side. It’s in your best interest to choose a fiduciary.
Fiduciary (adjective)
Of, relating to, or involving a confidence or trust – Miriam
Webster Dictionary
Fiduciary (noun)
In law, a person who occupies
a position of such power and confidence with regard to the property
of another that the law requires him to act solely in the interest
of the person whom he represents – Encyclopedia
Britannica
One might assume that since clients
place a special trust in their financial advisors, financial advisors
would then owe a fiduciary duty to their clients. Unfortunately,
most financial advisors are really commissioned salespeople who
do not represent the interests of their clients.
 "I
do perceive here a divided duty.” – William
Shakespeare
If your financial advisor accepts commissions, chances are that
he or she is really either a Registered Representative of a brokerage
firm, an Insurance Agent, or both.
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Wessel Investment
Counsel, LLC
22 South Pack Square
Jackson Building, Suite 400
Asheville, NC 28801-3500
Phone: (828) 232-2000
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