Fiduciary Investment Advisors: Who They Are & How to Find One
- Will Grant
- Jul 14
- 11 min read
Updated: Aug 14
A fiduciary investment advisor is legally obligated to act in your best interest at all times.
For example, if your financial advisor is a Certified Financial Planner (CFP®), they must follow a fiduciary standard when providing financial advice. This means they must avoid or fully disclose conflicts of interest and cannot prioritize their own compensation over your financial well-being.
Unlike advisors who only need to provide “suitable” advice, fiduciaries must offer guidance that is in your best interest. This includes carefully evaluating investment options and avoiding unnecessarily expensive products—such as certain mutual funds—when more cost-effective alternatives are available.
Essentially, when you work with a fiduciary financial advisor, you don't have to worry about whether your financial advisor is looking out for you or not.
You know that they are legally bound to put your best interests first at all times.
Will Grant is a Senior Wealth Manager with 360 Financial. He earned a Bachelor of Science degree in Finance from Miami University and holds his Series 7 and 63 licenses through LPL Financial and his 65 license through 360 Financial.
Table of Contents
Fiduciary Investment Advisor vs. Fiduciary Financial Advisor
The term fiduciary investment advisor is a fairly common term.
You’ll often hear people use fiduciary investment advisor or fiduciary financial advisor. They basically mean the same thing.
What matters most is not the exact title, but whether the advisor is legally and ethically required to act in your best interest. That’s what the fiduciary standard is all about.
What Does a Fiduciary Investment Advisor Actually Do?
As a fiduciary financial advisor, I’m here to help you get from where you are today to where you want to go financially.
Here’s what that process typically looks like:
First, we sit down and have a deep conversation about your goals, concerns, and financial situation.
Then, we look at all the investment options available—not just one company’s products or a limited cookie-cutter portfolio.
We build an asset allocation strategy that makes the most sense for you, based on your goals and risk tolerance.
When we look at your risk tolerance, that shouldn't just mean filling out a form. I’m going to walk you through real-life scenarios.
For example: “If the market drops by 20%, would you want to buy more, sell, or hold steady?”
Why does this matter? Because a good advisor isn’t just focused on growth. We also need to make sure you feel confident. If you’re in an overly aggressive investment mix that makes you anxious, that’s not a win for you, or for me as your advisor.
Ultimately, it’s about finding the right balance between the risk you want to take and the risk you need to take to pursue your goals.
How Does a Fiduciary Investment Advisor Help?
Fiduciary investment advisors help you make money decisions that truly benefit you.
They don’t just suggest products or strategies that “could work.” They’re required to recommend what works best for you.
For example, they won’t push a high-fee fund just because it pays them more. Instead, they’ll explain your choices clearly and help you pick investments that match your goals, timeline, and risk level. Think of them as financial coaches who play on your team—and play fair.
Essentially, a fiduciary advisor helps their clients make good financial decisions.
Table: Services a Fiduciary Investment Advisor May Provide
What They Do | What This Means |
Manage your investments | Build and adjust a portfolio that fits your goals and comfort with risk |
Create a full financial plan | Tie together saving, spending, taxes, insurance, and more into one strategy |
Prepare you for retirement | Help you plan when and how to retire without running out of money |
Look for tax savings | Suggest ways to legally reduce your tax bill and keep more of what you earn |
Plan for education costs | Set up and manage savings for your kids’ or grandkids’ college or private school |
Coordinate estate planning | Work with your attorney to organize wills, trusts, and legacy goals |
Review your cash flow and spending | Help you understand where your money’s going and how to save more |
Evaluate your insurance coverage | Make sure your policies protect what matters and aren’t costing too much |
Break down your employee benefits | Help you get the most out of 401(k)s, stock plans, and other work perks |
Guide your debt strategy | Offer advice on how to pay off or manage debt in a smart way |
Advise business owners | Support your personal financial goals with planning for succession, savings, or retirement |
The Fiduciary Standard Explained
The fiduciary standard is the highest bar in financial advice.
It means your advisor must give advice that’s in your best interest. That’s different from the “suitability standard,” which only requires advice that fits your general profile.
Here’s the difference: A suitable recommendation might work, but the fiduciary one must be the best fit. It’s like the difference between a car that gets you from A to B in one piece and a car that has all the latest safety and fuel efficiency standards. One might be OK, but the other is truly optimized with your best interests in mind.
What Does the Fiduciary Standard Look Like in Practice?
The fiduciary standard means that I have a legal and ethical duty to act in your best interest.
But what does that mean in practice?
It means I take the time to fully understand your financial situation (across all areas) and then make recommendations that are right for you.
What it doesn’t mean is giving the same generic advice to every client who walks through the door. Unfortunately, that still happens in our industry. But if an advisor is putting every client into the same mutual fund or following a one-size-fits-all approach, they’re not operating as a true fiduciary.
A fiduciary creates a custom-tailored plan.
How Can You Tell If Your Advisor Is Truly a Fiduciary?
Ask directly, then verify their answer.
A true fiduciary will say yes (without hesitation) and be able to explain what it means.
Look for credentials like CFP® or RIA, which follow fiduciary rules. Ask if they earn commissions or work fee-only. Double-check their background using sites like BrokerCheck or the SEC advisor search tool. If they dodge these questions or aren’t clear, that’s a red flag.
Which Professional Designations Indicate an Advisor is a Fiduciary?
If you’re trying to figure out whether an advisor is a fiduciary, look for these key designations:
CFP® (Certified Financial Planner) – This is one of the most widely recognized fiduciary credentials.
CPWA® (Certified Private Wealth Advisor) – This focuses on strategies for ultra-high-net-worth families, but still carries a fiduciary obligation.
AIF® (Accredited Investment Fiduciary) – Another credential that signals a fiduciary commitment.
Another thing to check: Is the advisor—or their firm—registered as an RIA (Registered Investment Advisor)?
At 360, we’re an RIA, which means we operate under the fiduciary standard as a firm.
How Do You Find the Right Fiduciary Investment Advisor?
If you’re looking for the right advisor, here’s where I’d start:
1 - Decide if location matters.
Some people want to work with a local advisor.
Others just want the best team, even if it means working remotely. At 360, we work with clients across the country.
2 - Start your search.
Google terms like “top fiduciary advisors in my state” or “best fiduciary firms near me.”
Also, check out Forbes Best-in-State Wealth Advisor Rankings. These lists are based on interviews, reviews, and firm structure.
3 - Do a website check.
When you land on a firm’s website, look for:
Do they clearly state that they’re fiduciaries?
Do their team members hold professional designations like CFP®?
Are they registered as an RIA?
4 - Ask the right questions during your first call.
On your first meeting, ask:
Are you a fiduciary?
Is your firm an RIA?
How much time will you spend understanding my personal goals and concerns?
If the advisor doesn’t check every one of those boxes, they may not be the right fit for you.
What Other Questions Should You Ask Before Hiring an Advisor?
One thing I always encourage people to consider is the team structure.
At 360, each client has an entire team—not just one advisor.
At 360, our team includes:
A dedicated wealth manager (like me) helping with your financial plan and investment strategy.
Operational specialists who handle things like account setup, online access, and tax forms.
A client service coordinator who schedules your meetings and keeps you organized.
Mike Rogers, our founder, oversees the big-picture planning for each family we serve.
This team approach matters.
Why?
Because life happens.
If something changes (or if your advisor retires), you want a team that already knows your situation and your goals.
Too many people work with just one person. But what happens if that person leaves the industry? Does anyone else at the firm know where you’re trying to go financially?
Having a full team behind you is one of the best ways to stay on track, no matter what.
Common Questions
Is it a good idea to get a fiduciary financial advisor?
Yes, especially if you want advice that puts your interests first. A fiduciary is legally required to give you honest guidance, not just sell products.
How do fiduciary financial advisors make money?
Most earn fees based on the services they provide, like flat fees or a percentage of assets they manage. They don’t earn commissions for selling products, which helps reduce conflicts of interest.
What is the Investment Advisers Act?
It’s a U.S. law from 1940 that sets rules for how investment advisors must treat their clients. It’s what requires fiduciary advisors to act in your best interest.
What are registered investment advisors?
Registered Investment Advisors, or RIAs, are professionals or firms that are registered with the SEC or state regulators. They must follow fiduciary rules when giving financial advice.
What is a Chartered Financial Analyst?
A Chartered Financial Analyst (CFA) is a finance professional with deep training in investment analysis and portfolio management. It’s a respected credential often held by institutional advisors and analysts.
How do I know if I need financial planning or wealth management?
If you're looking to build a clear plan for your income, spending, and saving, financial planning might be the right fit.
Wealth management is more comprehensive and usually includes investing, tax planning, and estate planning support for higher-net-worth clients. If you need a comprehensive suite of financial services, seek the guidance of a wealth management firm that operates within a fiduciary environment.
What should I do if I think my advisor broke their fiduciary duty?
If your advisor breaks fiduciary duty, act fast to protect yourself.
Start by gathering records of their advice, communications, and account activity. Then, report your concerns to the SEC, FINRA, or your state’s financial regulator. You may also want to speak with a financial attorney.
If you’ve lost money because of dishonest or self-serving advice, you might be able to recover it. Don’t wait—reporting the issue helps protect you and others.
Do You Need Help with Retirement Planning and Portfolio Management?
Take a look at the services below to see if you need the help of a fiduciary financial advisor or investment advisor.
If any of these services feel important to you, we recommend that you get in touch with a 360 Financial wealth advisor.
Here's how a fiduciary financial advisor can help:
Help you manage your investments – They’ll build and adjust your portfolio based on your goals and comfort with risk.
Create a full financial plan – This covers everything from saving and spending to insurance and taxes, all in one big-picture strategy.
Get you ready for retirement – Whether you want to retire early or just make sure you won’t run out of money, they’ll help map out your income plan.
Find smart ways to lower your taxes – They’ll look for legal strategies to help you keep more of what you earn.
Set up college savings – They can help you plan and save for education costs, whether it’s for your kids or grandkids.
Work with your estate attorney – They help make sure your wills, trusts, and legacy plans line up with your financial goals.
Review your cash flow and spending – If you want to save more or manage your stress around money, they’ll help you figure out where your money goes.
Check your insurance coverage – They’ll go over your policies and help you spot gaps or unnecessary costs.
Explain your employee benefits – They can show you how to make the most of your 401(k), stock options, or other work perks.
Help you tackle debt – They’ll walk you through ways to pay down or restructure debt so it doesn’t hold you back.
Support you as a business owner – From exit planning to retirement savings, they offer strategies for both you and your business.
Final Thoughts
At the end of the day, working with someone who understands their fiduciary duty is one of the most important decisions you can make for your financial future.
Not all financial professionals are required to act in your best interest, which is why it’s so important to ask the right questions. Look for registered investment advisers, check for professional designations, and make sure the firm is held to regulatory standards like those set by the Financial Industry Regulatory Authority (FINRA).
The financial services industry is large, and there’s a big difference between personal financial advisors who take the time to build a plan around your goals and those who offer one-size-fits-all solutions.
Taking the time to choose the right team can make all the difference in reaching your long-term goals—and sleeping well at night while you’re on the journey.
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About the Author
William Grant
Will Grant enjoys empowering people to make informed decisions and seeing the positive impact his guidance can have on their lives.
Prior to joining 360, he spent seven years serving hundreds of clients at a boutique RIA focused on healthcare executives with equity compensation and then at a large, independent RIA. He earned a Bachelor of Science degree in Finance from Miami University and holds his Series 7 and 63 licenses through LPL Financial and his 65 license through 360 Financial.
Will lives in Minneapolis with his fiancée, Melissa. In his free time, he enjoys competing in triathlons, golfing and is an active member of the Minnesota Leadership Council for the Chick Evans Scholarship Foundation, of which he was a recipient.
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About 360 Financial
360 Financial is an independent wealth management firm with a team of specialized financial advisors and financial planners. As fiduciaries, 360 Financial’s advisors provide services to business owners, entrepreneurs, and professionals. We help investors with sudden wealth, retirement planning, tax planning, estate planning, and business financial planning.
Headquartered in Minnesota, we serve investors across the US with online and in-person wealth management and financial planning services.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.
Asset allocation does not ensure a profit or protect against loss.
This information is not intended to be a substitute for specific individualized tax or legal advice. We suggest that you discuss your specific situation with a qualified tax or legal advisor.
