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Personal Finance

This guide gathers together useful resources relating to money management.

Definitions

 
Fiduciary—
This legal term refers to a person or other entity, such as a bank or credit union, who acts as an agent-in-trust (carries out financial or legal duties on behalf of another) for another. A fiduciary might manage a financial trust for a minor. The fiduciary has the responsibility to behave in a trustworthy manner.
Non-Fiduciary—
Free financial advice is easy to come by, and it is often provided by brokers and sales agents.  They want to sell you something.  Their only legal obligation is to sell you a product or service that is "appropriate" for you.  It does not have to be the best option for you.  They are under no obligation to provide advice that is in your best interests.
 
Never be shy about asking this question of any financial advisor: 
"Do you have a fiduciary responsibility to provide advice that is in my best interest?"