Suitability vs Fiduciary

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Suitability: What Investors Need to Know

Did you ever wonder why investment professionals ask questions about your investment experience, risk tolerance and more? FINRA's suitability rule (FINRA Rule 2111) is based on a fundamental FINRA requirement that brokerage firms and their associated persons (sometimes referred to as brokers, financial advisers or financial consultants) deal fairly with their customers. FINRA has prepared this document to educate investors about our suitability rule—and to explain the reasons why firms and their associated persons may ask their customers questions about their financial situation.

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The ‘Suitability’ Rule

Broker-dealers are held to a standard known as suitability, meaning they must reasonably believe that their financial advice and recommendations are suitable for clients based on their financial needs, circumstances, and goals. However, “suitability” does not bar broker-dealers from recommending products that they receive commission or fees on, which could potentially result in the misalignment of interests.

At The Thrush Group, we believe that because “suitability” protects the interests of the institution, it’s by no means a “suitable” standard of client care.

The Fiduciary Standard

We serve our clients, their families and their businesses as fiduciaries. A fiduciary is an individual in whom another has placed the utmost trust and confidence to manage and protect property or money. It is a relationship in which one person has an obligation to act for another's benefit. Your interests should be first and held in the highest regard. Our focus is on putting our clients’ needs at the center of our business to restore trust in the financial services industry.

We are not beholden to sales agendas or proprietary products—rather, Hightower gives us access to quality investment solutions from a host of top firms and service providers. Our model enables our clients to benefit from competitive pricing, as well as a diverse selection of sophisticated products and services.

Contact us to learn more about our team, our philosophy and how we can help you build your legacy.

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