When it comes to your finances, don’t you want advice that’s 100% in your corner? That’s what it means to work with a fiduciary like us at Stone Pillars Wealth Management. One question we hear quite often is, “What makes your firm different?” And an important part of that answer lies in our role as a fiduciary. Simply put, being a fiduciary means we’re legally and ethically obligated to act in your best interest—always. This includes providing transparent advice, avoiding conflicts of interest, and fully disclosing any potential conflicts that could influence recommendations. But here’s the tricky part: sometimes the difference between what’s “suitable” and what’s truly in your best interest can be hard to see.
The Sporting Goods Store Analogy
Imagine you walk into a sporting goods store looking for a pair of running shoes. An enthusiastic sales associate greets you and asks how they can help. You tell them that you’re training for a half-marathon and need a pair of comfortable, durable running shoes. They lead you to the running shoe section and begin to show you some options, but then they shift focus and show you a pair of cross-trainers.
The associate explains that these cross-trainers are comfortable, durable, and even suggests they’d work just fine for running. Trusting their expertise, you buy them on the spot. After all, they know shoes, right?
But a few weeks later, as you’re running those long training miles, you notice that your shoes aren’t holding up like you expected. They’re comfortable enough, but they lack the support a true running shoe would have given you. It’s then that you discover the store was pushing cross-trainers that month to win a sales contest.
The shoes were “suitable,” sure—but not really what you needed to hit your personal best.
Suitable vs. Best Interest in Financial Advice
A situation like this is not too different from what can happen in the world of financial advice. There are often products or investments that pay commissions to the advisor based on how much you invest or which companies they choose. This can create a “suitability” scenario—the recommendation might technically be a fit for you, but it may not be the optimal choice for your financial goals.
As a fiduciary firm, Stone Pillars Wealth Management operates differently. We’re a fee-only firm, meaning the only compensation we receive comes directly from our clients. We do not accept commissions from any company or vendor, and this structure allows us to give you completely unbiased advice, without any hidden motivations or potential conflicts clouding our recommendations.
Transparency and Potential Conflicts of Interest
That doesn’t mean that conflicts never exist—they can, and they do. For instance, clients sometimes ask if they should invest in an outside opportunity, like a real estate project or a business venture. In situations like this, if the client were to move money from our management to an outside investment, our firm would no longer collect fees on those assets.
However, as fiduciaries, our responsibility is to provide honest, objective advice based on what’s best for your financial well-being—regardless of how it impacts our business. If there’s any potential conflict, we will clearly disclose it to you and have a candid discussion about your options, laying out the pros and cons so you can make an informed decision.
Our Commitment to You
At Stone Pillars Wealth Management, our fee-only structure means we have one priority: serving your needs. Unlike some firms that earn commissions from the products they sell, we receive no payments from any company or vendor—our only compensation comes directly from you, our client. This ensures that our recommendations are never influenced by outside incentives, and you always know we’re working in your best interest.
We understand that there are a variety of business models and compensation structures within the financial advisory and insurance industries, each with its own place and value. However, when it comes to wealth management and financial planning, we firmly believe that the fiduciary standard is the benchmark. As a CFP® professional, I am held to this fiduciary standard and stand by the principle that every piece of advice given should serve your best interests—not those of the firm or anyone else.
Let’s Connect
At Stone Pillars Wealth Management, we’re not just here to offer financial advice—we’re here to be your partner in achieving your life’s goals. By working together, we aim to provide transparent, unbiased guidance that helps you get to where you want to be, whether that’s retirement, business growth, or leaving a legacy for your family. So, let’s start the conversation. We’d love to learn more about your goals and find the right financial “shoes” to support your journey.
Ready to get started? Let’s connect and find the right “fit” for your financial journey.
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