INSIGHTS

Frequently Asked Questions

As a practical matter, what does the fiduciary duty of an RIA mean?

The fiduciary obligations of RIAs to their clients are extensive. They must:

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1. Provide investment advice that is entirely disinterested, objective, and in the client’s best interest.

2. Always put the interest of their clients above their own.

3. Always act toward clients with loyalty, fairness, and good faith.

4. Disclose any actual or potential conflicts of interest in filings with the SEC.

5. Seek best execution of all trades.

6. Monitor the accounts of their clients during their relationship.

7. Keep all matters relating to clients in strict confidence.

Are all financial advisors fiduciaries?

No they are not. All RIA’s (Registered Investment Advisors) are fiduciaries. However, broker-dealers, a broader term used to describe a person or firm that buys and sells securities on behalf of a client and their organization, aren’t uniformly held to a fiduciary standard (this applies to banks and insurance companies as well). Instead, broker-dealers must follow a “suitability” standard, which means they must “reasonably believe” that an investment, transaction, or the frequency of trades is “suitable” for the customer.

Broker-dealers may be incentivized to sell investment products that pay them a higher commission instead of lower-cost investments. As long as the broker-dealer “reasonably believes” the higher-cost product is “suitable,” this is permissible conduct.

An RIA would violate the fiduciary duty to clients by engaging in this conduct.

The obligation of broker-dealers to disclose potential conflicts of interest is more relaxed than it is with RIAs.

What fees will I pay?

As a Fee Only Fiduciary Advisor we only receive compensation from our clients. We receive compensation by charging an ongoing asset management fee based on the value of investments in your advisory account. We can also receive compensation based on an hourly fee for financial planning services.

Awards & Recognition

Forbes 2026 Best-in-State Wealth Advisors badge highlighting Stevens Capital Partners' recognition in wealth management and financial planning.

CTRC Certified Tax Representation Consultant seal, symbolizing professional accreditation in tax representation services, relevant to Stevens Capital Partners' wealth management and financial planning expertise.

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Understanding Fiduciary Responsibilities

Fiduciary responsibilities are the legal and ethical obligations that financial advisors have to act in the best interest of their clients. This means providing advice that prioritizes the client's needs over personal gain or commissions.

For instance, a fiduciary advisor must disclose any potential conflicts of interest and ensure that investment recommendations align with the client's financial goals. This level of transparency is crucial for building trust and ensuring that clients feel secure in their financial decisions.

Differences Between Fiduciaries and Non-Fiduciaries

Understanding the distinction between fiduciaries and non-fiduciaries is essential for clients seeking financial advice. While fiduciaries are legally bound to act in the best interest of their clients, non-fiduciaries, such as broker-dealers, may only be required to recommend suitable investments.

This difference can significantly impact the quality of advice received. For example, a broker-dealer might recommend products that yield higher commissions for themselves, rather than the most cost-effective options for the client, highlighting the importance of choosing a fiduciary advisor.

Fees Associated with Financial Advisory Services

When seeking financial advisory services, clients often have questions regarding the fees involved. Understanding these fees is crucial for making informed decisions about financial planning and management.

Common fee structures include flat fees, hourly rates, and a percentage of assets under management. Each structure has its pros and cons, and clients should discuss these openly with their advisors to ensure transparency and alignment with their financial objectives.

Client-Centric Approach at Stevens Capital Partners

At Stevens Capital Partners, the client-centric approach is foundational to the firm's philosophy. This means that every financial strategy and recommendation is tailored to meet the unique needs and goals of each client.

By prioritizing client interests, the firm fosters long-term relationships built on trust and mutual understanding. This approach not only enhances client satisfaction but also aligns the firm's success with the financial well-being of its clients.