Financial Literacy

What is a Fiduciary?


A fiduciary is an individual or business who has a legal duty to act in the best interest of a client, building a bond of trust and avoiding conflicts of interest. The duties of a fiduciary depend on the specific profession and the laws or regulations that govern a specific industry or role.

How does MAI Capital act as a fiduciary?

Registered Investment Advisers (RIAs) are companies registered with the Securities and Exchange Commission. RIAs provide investment advice and often advise on a wider range of subjects relating to clients’ financial lives. They are required to act as fiduciaries and must only recommend investments and other financial planning products that are the best fit for their clients.

CERTIFIED FINANCIAL PLANNERs™ (CFP®) are highly trained specialists with significant financial education and experience who are held to a code of ethics. The Fiduciary Duty of a CFP® applies when the professional is providing financial advice to a client. To act as a fiduciary, the CFP® must fulfill:

  • The Duty of Loyalty
  • The Duty of Care
  • The Duty to Follow Client Instructions

How to vet a fiduciary financial advisor

The easiest way to determine if your advisor is a fiduciary is to ask. You can then verify his or her status using the FINRA’s BrokerCheck database. Another way is to work with a CERTIFIED FINANCIAL PLANNER(CFP®), who is a highly trained specialist required to follow a specific code of ethics.

Why does any of this matter?

Your money is important to you. You deserve to know that the people handling your financial wellness put you, not their commission or their firm, first.

MAI Capital Management, built on the ideal of taking care of clients first, is a fiduciary financial adviser that aims to empower clients to simplify, protect, and grow their wealth.

To learn more about working with our team, please contact

Information updated as of Friday, June 16, 2023. Please send your questions, comments and feedback to: The opinions and analyses expressed herein are subject to change at any time. Any suggestions contained herein are general, and do not take into account an individual’s or entity’s specific circumstances or applicable governing law, which may vary from jurisdiction to jurisdiction and be subject to change. Distribution hereof does not constitute legal, tax, accounting, investment or other professional advice. Recipients should consult their professional advisors prior to acting on the information set forth herein.

We look forward to learning about your financial goals.