What Is a Fiduciary?

Let’s start with the dictionary definition from Merriam-Webster. Fiduciary - held or founded in trust or confidence; holding in trust.

In financial terms, a fiduciary is someone who prudently takes care of money or assets for another person. In a fiduciary relationship, one person, in a position of vulnerability, justifiably vests confidence, good faith, reliance, and trust in another whose aid, advice, or protection is sought in some matter. The client in this case is seeking the investment advice of MFG, and placing trust upon us to manage their wealth.

In a financial advisor to client relationship, the term fiduciary means that the advisor must act at all times for the sole benefit of the client. Fiduciary wealth managers/financial advisors must make every decision with the client’s best interest in mind. Part of what we do is help clients outline their best interests into a financial plan that their advisor can take action on and follow. MFG promises to always act in the best interest of our clients.