Fiduciary Responsibilities of Some Investment Advisors

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Michael discusses how acting as a fiduciary changes the approach to due diligence when evaluating fund managers. As fiduciaries, the standard is not just about suitability—it's about prioritizing the best interests of clients above all else.

Here are some key takeaways:

Fiduciary Responsibility: The fiduciary standard requires putting clients' interests first, not just choosing investments that are “suitable.”

Due Diligence Mindset: When evaluating investment managers, fiduciaries look beyond the 5 P’s (People, Processes, Performance, Plans, Platforms).
They aim to understand if the manager truly values the families' capital and sees it as more than just a commodity.

The Human Impact: Every investment decision impacts real lives, not just numbers on a balance sheet. A genuine fiduciary approach acknowledges this responsibility and seeks alignment with managers who share this mindset.

If you're interested in how fiduciary standards can elevate due diligence and decision-making, this episode is for you. Don't forget to like, comment, and subscribe for more insights!

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