9 Fiduciary Promises to Verify Before You Sign

“Fiduciary” should mean your interests come first—every time, in every account, with every recommendation. But titles, marketing, and dual registrations can blur when that duty actually applies. Before you hand over your life savings, verify the promises in writing and in dollars. The right documents and processes make true loyalty visible. Use these nine checkpoints to confirm you’re hiring a real fiduciary—not just a good salesperson.

1. Always-On Duty (In Writing)

Ask the advisor to confirm they act as a fiduciary 100% of the time, not just “when delivering advisory services.” Get a signed fiduciary oath and a scope letter that names your accounts and situations covered. If they’re dually registered (RIA/broker), pin down exactly when the lower “suitability” standard might appear. No hat-switching, no carve-outs, no fine-print escapes.

2. All-In Fees Shown in Dollars

Insist on a one-page, all-in fee summary: advisor fee, platform/wrap, fund/ETF expenses, trading, custodial, plus any planning or project fees. Have them model costs on your expected balance so you see dollars, not just percentages. Confirm how fees change as assets rise or fall, and what happens if you keep assets outside their custody. If they won’t total it, assume the total is ugly.

3. No Commissions or Kickbacks—Ever

A real fiduciary won’t accept sales commissions, 12b-1 fees, revenue sharing, or “soft-dollar” perks that bias recommendations. Get a written statement that they refuse those payments and disclose any marketing support or shelf-space arrangements. Verify that staff incentives aren’t tied to product type or new-asset quotas. Your plan should drive the solution, not compensation plumbing.

4. Custody Separation and Withdrawal Controls

Your advisor should not hold your money; an independent custodian should. Confirm dual authorization for withdrawals, call-backs for money movements, and view-only access for you at the custodian. Ask how beneficiary changes, wires, and address updates are verified. Process protects you when trust is tested.

5. Proprietary/Related Products: Prove It’s Best for You

If the firm recommends its own funds, models, or private deals, demand a written conflict disclosure. Require a side-by-side of identical, cheaper alternatives with cost, liquidity, and tracking differences. Make them justify the choice for your tax bracket, account type, and time horizon. Preference isn’t prudence; documentation is.

6. Trading, Rebalancing, and Tax Discipline

Have them spell out rebalancing frequency, loss-harvesting rules, wash-sale controls, and how they minimize short-term gains. Ask how trade aggregation and allocation ensure fairness across clients. Confirm who approves model changes and how large realized gains trigger client consent. A process beats promises when April 15th arrives.

7. Advice Beyond Assets (No AUM Handcuffs)

Fiduciary advice should still be paid when the best move is not transferring assets—paying debt, holding cash, or buying real estate. Verify they offer flat-fee/hourly/project pricing so good non-portfolio choices don’t cut their paycheck. Confirm they’ll advise on outside accounts (401(k)s, HSAs, 529s) without forcing a rollover. If every road leads to “move money here,” it’s not advice—it’s distribution.

8. Transparent Filings and Real Conflict Talks

Ask for Form ADV Part 2A and Form CRS and schedule a screen-share walkthrough of the conflicts sections that apply to you. Confirm last-updated dates and keep the official SEC link to verify independently. Have them address any disciplinary history, affiliates, or referral fees and how they’re mitigated in your case. If the filing disagrees with the pitch, believe the filing.

9. Privacy, Data Sharing, and Tech Vendors

Your financial life shouldn’t be productized behind your back. Ask which third-party tools (planning, aggregation, CRM, marketing) touch your data, what they collect, and how they’re secured. Require opt-outs for data sharing not essential to serving you, and ask whether vendors have SOC 2 or comparable controls. Fiduciary care includes your privacy, not just your portfolio.

Make the Duty Real Before the Ink Dries

A true fiduciary welcomes these checks because they already operate this way. You’ll see it in signed oaths, dollarized fees, independent custody, written conflicts, and tax-aware trading rules. When incentives, process, and paperwork all point in the same direction—you—you’ve found the right fit. Verify first, then relax into the relationship you actually wanted.

Which fiduciary promise will you verify first—always-on duty, all-in fees, or data privacy? Drop your priority in the comments.