Advisor On My Side asked Ric Edelman to provide a statement that would help investors understand the importance of working with a fiduciary. Here is the statement we received on March 1, 2019:
“It is essential for investors to understand the importance and value of choosing a financial advisor who is a fiduciary – meaning an advisor who serves your best interests – instead of their own,” said Ric Edelman, co-founder of Edelman Financial Engines.
“Let’s face it, investors don’t always ask or even know to ask if their advisor is a fiduciary. Without a unified fiduciary standard for all investment recommendations, investors will not get the protections they need and deserve.”
“With our new board member Phyllis Borzi, the lead champion of the Conflict of Interest Rule, Edelman Financial Engines will continue to advocate for the strongest rule possible that will always put the best interest of investors first.”
Fredric Mark “Ric” Edelman is the chairman and co-founder of Edelman Financial Services, LLC, the author of several personal finance books and the host of a weekly personal finance talk radio show called The Ric Edelman Show, syndicated by Syndicated Solutions.