Eric Cumley, CFP® serves in the role of a fiduciary. A fiduciary is responsible for looking after the assets of another person on that person’s behalf. This means Eric’s primary legal duty is to place the interests of Olympic’s clients above his own at all times.
This solemn duty also requires full, voluntary disclosure of all facts considered vital to a client’s investment decisions, especially with regard to fees. For example, if two investment products offer a similar risk and return profile—but one costs less than the other—the fiduciary advisor is legally obligated to recommend the lower cost option. By contrast, there is no legal requirement for non-fiduciary advisors to do this.
