The Fiduciary Standard of Care is frequently referred to as "the highest standard of care at either equity or law." It is the basis for Provident's interaction with our clients.
For us, the Fiduciary Standard requires that we offer our clients the best financial products, vehicles and advice that are obtainable in the United States to meet their needs. Most brokers and "advisors" employed by investment firms are not held to the Fiduciary Standard, but rather to a "suitability standard." This means "best" can be what is best for their employing company, not necessarily what is best for the client. The broker need only prove that his or her recommendation was "suitable" for the client.
At Provident Retirement & Financial, we develop a plan for our clients and then choose from a number of insurance companies and investment strategies to find, in our professional opinion, the best product(s) or vehicle(s) to meet the clients needs. We are not employed by any investment company, our responsibility rests solely with the client. "Best" only means one thing for us: All things considered, what is in the best interest of the client?