Our Service Philosophy

Our Service Philosophy

Business meeting in an officeSome people may not realize it, but when it comes to investing, the industry has two legal standards regarding the loyalty of a consultant’s advice. Financial consultants are either acting as fiduciaries or they are not! In the past, the industry has assumed that clients knew the difference. However, a new Securities and Exchange Commission (SEC) ruling, the “Merrill” Rule, now requires that broker-dealers who claim an exemption from the Investment Advisors Act and its fiduciary standards disclose that their interests may diverge from their clients.

(See Adrian Eddleman’s published article on this topic)
Harold Evensky, a founding National Council of Financial Fiduciaries (NCFF) board member noted, “This new disclosure rule is a vital step towards reinforcing the sharp historic and legal difference between a SEC registered investment adviser and a NASD registered broker. The key difference is not compensation or the number of regulations in place. It’s much more. A broker and an adviser have fundamentally different responsibilities and jobs, based in law. Brokers owe loyalty to their firm, and their job is selling investment products and executing transactions. An investment adviser, on the other hand, provides advice and, by law, must put his client’s interests first. He owes his loyalty to his clients.” **

** The opinions of Harold Evensky do not necessarily reflect the opinions of the SEC, the NASD, or any state licensing board including the Tennessee Department of Commerce Securities Division.

Complimentary Initial Session

We’d love to find out more about you and your investment needs and share with you what we do for clients so you can make a good decision about working with an investment advisor.

Call us at 731-554-2408 or email us at info@eddleman.biz to set up your no-cost, no-obligation 1-hour initial consultation.

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