What Is a Fiduciary? Understanding Our Duty to Act in Your Best Interest

When it comes to managing your wealth, few terms carry more significance than “fiduciary.”

Choosing the right financial advisor is one of the most important decisions you’ll make—especially when your financial life involves multiple layers of complexity. Working with a fiduciary means knowing client’s best interests always come first. At Tenet Wealth Partners, acting as a fiduciary isn’t just a legal standard—it’s a core value.

Defining the Fiduciary Standard

A fiduciary is someone who is legally and ethically bound to act in the best interests of their client. In financial advisory relationships, this means placing client’s needs above all else—including the advisor’s own compensation or interests.

The fiduciary standard is a higher bar than the “suitability” standard that governs many brokers and financial representatives. While suitability requires that a recommendation is merely appropriate, fiduciary duty demands that it is the best option for the client.

Key Fiduciary Responsibilities

Fiduciary advisors have several core duties:

1. Duty of Loyalty
   We must always put your best interests ahead of our own. This includes avoiding conflicts of interest and disclosing any that may arise.
2. Duty of Care
   We are required to make well-informed decisions based on a deep understanding of your financial situation, goals, and risk tolerance.
3. Full Transparency
   Fees, compensation structures, investment risks, and potential conflicts must all be clearly disclosed.
4. Ongoing Oversight
   Fiduciary responsibility doesn’t stop after the initial recommendation. It requires continuous monitoring and adjustment as your life and financial situation evolve.

Why It Matters to High-Income Professionals

Physicians, dentists, and entrepreneurs often accumulate wealth through years of hard work and sacrifice. You deserve advice that is objective, personalized, and free of hidden agendas.

Unfortunately, the financial industry is filled with professionals who are not fiduciaries and may be incentivized to recommend products that serve their bottom line more than yours. Working with a fiduciary protects you from this misalignment.

When your advisor acts as a fiduciary, you can trust that every recommendation is designed to benefit you—not to generate a commission.

Our Commitment as Fiduciaries at Tenet Wealth Partners

At Tenet Wealth Partners, we adhere to the fiduciary standard in every client relationship. We are a fee based, independent advisory firm, meaning we do not receive commissions or third-party compensation from the solutions we recommend.

Our only incentive is your success.

We take the time to fully understand your goals—whether it’s building your practice, planning for retirement, or creating a lasting legacy. Every strategy we implement is grounded in what will best serve you and your family.

Fiduciary vs. Suitability: A Clear Contrast

It’s important to understand how fiduciary advisors differ from those who follow only the suitability standard:

• Fiduciary: Required to act in the client’s best interest at all times.
• Suitability: Must recommend options that are “suitable,” but not necessarily the best or most cost-effective.
• Fiduciary: Transparent about fees, compensation, and potential conflicts.
• Suitability: May not be required to disclose full details of how they are compensated.

This distinction can mean the difference between advice that builds your wealth and advice that serves someone else’s priorities.

Questions to Ask Your Advisor

If you’re not sure whether your current advisor is a fiduciary, consider asking the following:

• Are you legally required to act in my best interest at all times?
• How are you compensated?
• Do you receive commissions or incentives for specific products?
• Will you provide full disclosure on fees and potential conflicts?

A fiduciary advisor should be able to answer these questions directly and without hesitation.

Choosing a Partner You Can Trust

Working with a fiduciary means having a partner who sits on the same side of the table. It means having someone who prioritizes your goals, simplifies the complex, and brings clarity to every decision.

At Tenet Wealth Partners, we are honored to serve in that role. Our fiduciary commitment is the foundation of every financial plan, investment recommendation, and piece of advice we offer.

We believe that when trust is built on a fiduciary foundation, your financial future becomes clearer, more confident, and more in control.

Ready to Experience the Fiduciary Difference?

If you’re ready to work with an advisor who puts your interests first, we invite you to schedule a consultation with Tenet Wealth Partners.

Let’s build a relationship rooted in transparency, integrity, and your long-term success.

Registered Representative of Sanctuary Securities Inc. and Investment Advisor Representative of Sanctuary Advisors, LLC. Securities offered through Sanctuary Securities, Inc., Member FINRA, SIPC. Advisory services offered through Sanctuary Advisors, LLC., a SEC Registered Investment Advisor. Tenet Wealth Partners is a DBA of Sanctuary Securities, Inc. and Sanctuary Advisors, LLC.

The information provided in this communication was sourced by Tenet Wealth Partners through public information and public channels and is in no way proprietary to Tenet Wealth Partners, nor is the information provided Tenet Wealth Partner’s position, recommendation or investment advice.

This material is provided for informational/educational purposes only. This material is not intended to constitute legal, tax, investment or financial advice. Tenet Wealth Partners does not offer tax advice and you should consult with a tax professional for your specific situation.  Investments are subject to risk, including but not limited to market and interest rate fluctuations.  

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