Independent, Fiduciary Advice
Gussick & Barnett Financial Planning provides financial and retirement planning advice as
a FIDUCIARY*, always putting our clients' best-interest ahead of our own.
Our Fiduciary Duty
At all times when providing financial advice to a client, a Fiduciary Advisor must act in the best interests of the client. The following duties must be fulfilled:*
1. Duty of Loyalty
- Place the interests of the client above the interests of the professional and the professional’s firm;
- Avoid Conflicts of Interest, or fully disclose material conflicts of interest to the client, obtain the client’s informed consent, and properly manage any conflict.
- Act without regard to the financial or other interests of the professional, the professional's Firm, or any individual or entity other than the Client, which means that a professional acting under a Conflict of Interest continues to have a duty to act in the best interests of the Client and place the Client’s interests above the professional’s.
2. Duty of Care
- Act with the care, skill, prudence, and diligence that a prudent professional would exercise in light of the client’s goals, risk tolerance, objectives, and financial and personal circumstances.
3. Duty to Follow Client Instructions
- Comply with all objectives, policies, restrictions, and other terms of the Engagement and all reasonable and lawful directions of the Client.
Our Code of Ethics
As Fiduciary advisors, we operate under a Code of Ethics and uphold the following principles when providing financial advice to clients:
1. Integrity
- Trust is central to a successful financial and retirement planning relationship. You can count on our honesty, professionalism and abilities to help pursue your goals.
2. Objectivity
- We will act in your best interest when providing financial and retirement planning advice. We will use our experience and judgement to carefully consider your situation and then give advice that best aligns with your goals. At times, we may need to help you honestly evaluate and adjust your goals if they seem unrealistic given your current resources and financial commitments.
3. Competence
- We have completed rigorous education and have earned professional designations to demonstrate an advanced level of knowledge. In a constantly changing landscape of financial planning, our commitment to on-going education ensures we continue to offer timely, proficient advice.
4. Fairness
- Full disclosure is fundamental. We will clearly state what services will be appropriate for your situation and outline the costs and risks associated with any financial recommendation, along with any potential conflicts of interest.
5. Confidentiality
- We hold any personal and financial information that you divulge in strict confidence, only sharing it with your consent, or if ordered to do so by a court of law.
6. Professionalism
- We are properly qualified and licensed to provide investment advice as required by state and federal law. If your situation requires unique expertise which we do not possess, we will help you engage other professionals to assist.
7. Diligence
- We will manage all aspects of our relationship in a precise, thoughtful manner. We will maintain candid, open communication throughout the financial and retirement planning process and ultimately deliver to you a detailed, actionable plan.
What does Independent mean?
Gussick & Barnett Financial Planning is affiliated with LPL Financial, one of the leading financial services companies and the nation’s largest independent broker/dealer.**
LPL Financial (Nasdaq: LPLA) was founded on the principle that the firm should work for the advisor, and not the other way around. Today, LPL is a leader in the markets they serve,* supporting over 21,000 financial advisors. They are steadfast in their commitment to the advisor-centered model and the belief that Americans deserve access to personalized guidance from a financial advisor.
Independence at LPL means that we, as advisors, have the freedom we deserve to choose the business model, services, and technology resources that allows us to run our perfect practice. And we have the freedom to manage our client relationships, because we know our clients best. Simply put, LPL takes care of us, your advisors, so we can take care of you, our clients.
Click here to learn more about LPL.
*CFP Board Code of Ethics and Standard of Conduct
**No. 1 Independent Broker-Dealer in the U.S. (Based on total revenue, Financial Planning Magazine 1996-2021). LPL and its affiliated companies provide financial services only from the United States.