LFM&P: As a NAPFA Registered Financial Advisor, Certified Financial PlannerTM, and Registered Investment Advisor, David Linnard has pledged to place your interests before his and those of the company. Because you only pay an advisory fee that is completely disclosed, you are protected from the conflicts of interest that arise when products are sold or commissions and incentives are accepted. Additionally, your assets are held and independently reported to you by a third-party broker/custodian of your choice.
Common Industry Practice: Stockbrokers are typically not held to a fiduciary standard. A broker must only determine that a product being sold is “suitable” for the client. Commissioned-based selling holds inherent conflicts. “Suitable”, recommendations may be influenced by the commission or extra sales incentive received, rather than the client’s best interest. This is why LFM&P does sell not any products or accept commissions.