Fiduciary Advisors
We’re held to the highest ethical standards and act only in the best interests of our clients.
Our Fiduciary Advisors
We’re held to the highest ethical standards and act only in the best interests of our clients.
Choosing a Financial Advisor at Foster Group
We know it’s not easy to select and hire someone to manage or help guide your financial life. There’s so much to consider. But if you’re like many investors, peace of mind is a significant concern. You want to know that your advisor is experienced, competent, and always – always – acting in your best interests.
That’s why you should make certain that your advisor is a true fiduciary. Like Foster Group.
The word “fiduciary” comes from the Latin “fiducia,” meaning “trust.” It refers to an individual or organization having the obligation to act for a beneficiary with good faith and honesty. A fiduciary typically brings greater knowledge and expertise to the table than the beneficiary and is legally held to the highest standards of conduct and trust.
A fiduciary can also be certified. Which is why you can be assured that when you work with us, the result is Your Financial Life, Truly Cared For®.
Foster Group is a Certified Fiduciary Financial Advisor
Foster Group is the only firm in Iowa and Nebraska that has been continuously certified as a registered fiduciary by The Centre for Fiduciary Excellence (CEFEX) since 2007. Today, fewer than 250 firms – worldwide – hold this certification. To receive certification, firms undergo an annual assessment, including document review, client file sampling, and interviews with senior leaders. The assessment is evidence-based, and all work is reviewed by the CEFEX Registration Committee to ensure reliability and consistency.
Are All Financial Advisors Fiduciaries?
Not all financial advisors are fiduciaries, which is why you should always ask. Foster Group fiduciary financial advisors are held to the highest ethical standards and act only in the best interests of our clients. We are client-driven, not commission-driven. In fact, we do not offer commission-based products.
How Can You Tell if a Financial Advisor is a Fiduciary?
The Department of Labor has identified three criteria that advisors and financial services firms can satisfy to demonstrate compliance to the fiduciary relationship standard. Per the criteria, they should:
- State, in writing, that the firm commits to providing advice in the client’s best interest at all times.
- Clearly and prominently disclose any conflicts of interest, like less-than-transparent fees or backdoor payments that might prevent, or provide a disincentive to, the advisor from providing advice in the client’s best interest.
- State, in writing, that the firm has adopted policies and procedures designed to mitigate conflicts of interest.
State, in writing, that the firm commits to providing advice in the client’s best interest at all times.
Clearly and prominently disclose any conflicts of interest, like less-than-transparent fees or backdoor payments that might prevent, or provide a disincentive to, the advisor from providing advice in the client’s best interest.
State, in writing, that the firm has adopted policies and procedures designed to mitigate conflicts of interest.
Are All Fiduciary Financial Advisors Created Equal?
While all fiduciaries are bound to these obligations, not all fiduciaries are created equal. As part of our certification by The Centre for Fiduciary Excellence (CEFEX), Foster Group fiduciary financial advisors are guided by the CEFEX Prudent Practices for Investment Advisors, with 21 additional criteria for best fiduciary practices, including:
- Demonstrate awareness of fiduciary duties and responsibilities.
- Identify an appropriate risk level for each client.
- Utilize investment policy statements which contain sufficient data to define, implement, and monitor the client’s investment strategy.
- Document decisions regarding investment strategies and recommendations and make such decisions in a manner consistent with fiduciary obligations of care.
- Cashflow review, analysis, and planning
- Compare investment performance against appropriate market and peer group benchmarks and overall portfolio objectives during periodic reviews.
- Conduct periodic reviews to ensure investment-related fees, compensation, and expenses are fair and reasonable for the services provided.
Our clients can rest assured we are committed to exceeding the professional fiduciary standard by voluntarily undergoing a CEFEX audit every year to ensure enhanced accountability as we execute best practices.
This independent verification is even more critical for trustees and investment committee members of retirement plans, who are legally required to conduct regular due diligence on their service providers. By using Foster Group, a CEFEX-certified firm, their due diligence has already been accomplished through a third-party expert, at no expense to the plan.
Our Team of Fiduciary Financial Planners Is Also Highly Credentialed
At Foster Group, we are invested in you and your success. To better serve you, our experienced fiduciary financial advisors have earned significant professional credentials, underscoring their knowledge, expertise, and commitment to continuing education and improvement. We welcome the opportunity to work with you to help create a more secure and satisfying financial future.
Our Financial Advisors Help Make Your Financial Life, Truly Cared For®
Our mission is to always deliver wise financial counsel, while serving with character, competence, and care. Our fiduciary financial advisors work to maximize outcomes, while minimizing risk. We act prudently and purposefully to provide guidance that will best benefit our clients. That’s what truly caring is all about.
Discover the difference of working with a financial advisor who is experienced, credentialed, and truly focused on your best interests – with no commissions or conflicts of interest. Enjoy the peace of mind that comes from wise financial counsel, delivered with character, competence, and care.
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Contact a Financial Advisor
Contact us to learn more about what’s possible when you trust Foster Group financial advisors in West Des Moines, IA or Omaha, NE with your own financial future.