The Irony of Investment Advisers

You’ve decided to work with an investment adviser, instead of a stockbroker, in part because that adviser proudly told you they act as a fiduciary, prioritizing your interests above all else. This adviser also claimed that a broker was allowed to put their own interests ahead of yours and wasn’t required by law to honor a fiduciary duty to you. Now, some or all of your savings are gone, leaving you wondering what happened. How did this person – who told you that your interests were of paramount importance – manage to cause your losses? It could well be the simple operations of the markets as investments in legitimate enterprises tend to fluctuate in value, depending on a variety of factors. But your financial losses could also be the result of the adviser’s lousy advice, for which they can and should be held responsible.