Fiduciary Statement

 
 
 

Our difference

Here at Ms. Moody Money, we help you to better understand yourself and why you spend/save as you do even when you know you shouldn’t. We help you find what you want out of life, help build a plan to live your values, and provide support and accountability to get you there.

We won’t stop you from getting your daily latte, we’ll just help you budget for it so you can also buy your dream home in a few years.

Because we don’t sell any financial products, we do not fall under the suitability or fiduciary rule, but even though there is no legal mandate, we do only what is in our clients’ best interest. We won’t ever tell you what stocks or bonds to buy, only what the most recent personal finance rules of thumb are.

What is a fiduciary?

If you are looking for help with investments, it is crucial you understand what a fiduciary is - please read on! There are many people who tell you they can help with your money - bankers, financial planners, financial advisors, CFPs, wealth managers, brokers - the list goes on and on. Many of them are good people who can help in their own capacity, but too many are swayed by greed and end up selling you products that may not be what’s best for you, only what’s legally suitable. The problem is that out of a buffet of products, many may be suitable, but the cost to the consumer and kickback to the seller is vastly different. With such incentive to sell you products that cost more, it’s hard to know who to trust.

A fiduciary doesn’t just do what’s suitable for you, they do only what’s in your best interest. Although the legal Fiduciary Rule was overturned in 2018, many fee-only financial advisors still hold to it. If you are looking for someone to help you invest your money, find someone who is “fee-only”, not “fee-based”. A “fee-only” advisor holds to the fiduciary rule, a “fee-based” advisor holds to the suitability rule.