Is An Investment Advisor Representative A Fiduciary?
37376 POINTSview profileDavid G. Pipes, CLU®, RICP®Business Development Officer, T.D. McNeil Insurance Services, Fresno, CaliforniaA fiduciary generally handles other people’s money. The key is the authority that has been extended to the person involved. Many sales representatives have little to know authority or opportunity to actually receive money from a client. The other issue would be if the representative has authority to conduct business on behalf of the client.Answered on August 8, 2014flag this answer
21750 POINTSview profileJim WinklerCEO/Owner, Winkler Financial Group, Houston, TexasThat's a great question! The answer depends upon what powers you have legally granted them. If you have granted them the right to handle your money, and do business on your behalf, then they are. If all they are allowed to do for you is give advice, but not touch your assets, then they are not. I hope that helps, thanks for asking!Answered on August 10, 2014flag this answer
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