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There is a great deal of controversy in the investment community regarding whether a broker or investment advisor is a fiduciary. There is no controversy under the Code of Virginia which states very clearly that Registered Investment Advisors are fiduciaries. Beacon Wealth Advisors, LLC, believes that all investment managers, regardless of their configuration, are fiduciaries and we accept fiduciary responsibility for the accounts that we manage.
What is a Fiduciary?
A fiduciary is one who must act in another's interest, rather than in their own interests. Fiduciaries are held to a higher standard and are liable for the decisions that they make in managing investments. In general, a fiduciary is judged not on the investment performance, but on the investment process.
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