City Center Financial is an investor.com Trusted Advisory Firm
Fiduciary Advisors at City Center Advisors
What is a fiduciary?
A fiduciary is a person or organization that owes to another the duties of good faith and trust. The term is often used to describe a relationship in which one party, the fiduciary, is entrusted with the care of another party’s financial assets or interests. In the financial services industry, a fiduciary is required to put the interests of their clients ahead of their own and to act with the highest level of integrity, honesty, and good faith.
The concept of a fiduciary has a long history, dating back to ancient Rome, where the term “fiduciarius” referred to a person who held assets in trust for another. In modern times, the concept of a fiduciary has been codified into law through various legislative and regulatory frameworks, which outline the duties and responsibilities of fiduciaries and establish consequences for failing to meet these standards.
In the United States, the fiduciary duty of financial professionals is regulated by a number of different laws and agencies, including the Employee Retirement Income Security Act (ERISA), the Investment Advisers Act of 1940, and the Securities Exchange Act of 1934. These laws establish specific standards for financial professionals who act as fiduciaries, such as the duty to disclose any conflicts of interest, the duty to provide full and fair disclosure of all material facts, and the duty to act with the care, skill, prudence, and diligence of a professional.
In addition to these legal requirements, there is also a philosophical context to the fiduciary relationship, which emphasizes the importance of trust and confidence in the financial services industry. This includes the idea that financial professionals should be held to a higher standard of conduct, given the sensitive nature of the financial information they handle and the significant impact their actions can have on the lives of their clients.
At City Center Advisors we have always operated under the Fiduciary Duty rule as outlined in the Investment Advisers act of 1940. Our commitment to operating as Fiduciary Advisors is codified in our Policies & Procedures Manual of which all advisors of City Center are held to.
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888 W Big Beaver Rd. Suite 1220, Troy, MI 48084
Phone: (248) 275-1930 | (888) 267-1321 | clientservices@citycenterfinancial.com
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Advisory services offered through City Center Advisors, LLC an SEC Registered Investment Advisor. Registration does not imply a certain level of skill or training. Insurance products offered through City Center Financial, LLC. City Center Advisors, LLC and City Center Financial, LLC are affiliated entities.
All content is for information purposes only. It is not intended to provide any tax or legal advice or provide the basis for any financial decisions. Individuals should consult with their own tax, legal and investment professionals. Opinions expressed herein are solely those of the editorial staff. The information contained in this material has been derived from sources believed to be reliable but is not guaranteed as to accuracy and completeness.
No information contained herein should be construed or interpreted as a solicitation to sell or offer to sell advisory services to residents of any state or jurisdiction in which City Center Advisors, LLC is not notice filed or where otherwise legally permitted.