Choosing to work with a financial advisor is an important decision in your life. You are literally allowing this person to spend and invest your money. In fact, you are entrusting them to make wise decisions about your financial future. So, who should be your financial advisor?
Most people in UAE mistakes the relationship manager of a bank or a sales representative or sales consultant of brokerage with financial advisor. In fact, they represent their respective companies and gets rewarded for taking care of the interests of their company in the best possible manner and ofcourse, most of the times your best interests and the best interests of their companies does not go together. In addition to it, most of them do not possess any formal training or qualification in offering financial advice.
Buff & Lean International is a fully licenced insurance consultancy firm in UAE , with over 50 years of expertise in offering quality financial advice to thousands of satisfied clients across middle east and we have a fiduciary relationship with you, as our client. All our advisors have the experience, qualification and training to offer you quality advice on every aspect of your financial life.
What is a fiduciary relationship? It’s a special relationship of trust and confidence which, in the words justice Benjamin Nathan Cardozo (1870-1938; US Supreme court judge from 1932 to 1938) is "something more than the ordinary honour of the marketplace ... the very punctilio of honesty and forthrightness." It is a relationship in which the person providing you with a financial service is committed to placing your best financial interest ahead of his or her own
A fiduciary relationship means that the advisor will consistently act in good faith and have your best interest (as the client) in mind at all times. A fiduciary relationship is held to a higher standard of trust than other professional relationships.
Not every financial advisor has to adhere to a fiduciary standard or relationship. you may believe it is implied that by holding themselves out as a financial advisor, they will act with due care and caution when dealing with your money. Quite frankly, not all financial advisors do. That’s why it is so important that you need to ensure that you deal with a licensed financial advisor while seeking financial advice.