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Sound Financial Group - Bothell, Washington


Podcast Episode 109: Be Your Own Fiduciary

| September 18, 2018
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Episode Summary

In this episode, Paul sits down with Cory Shepherd to talk about the essential need for everyone to be their own fiduciary. Paul and Cory delve into the various definitions of a fiduciary, talk about bias and conflicts of interest in financial advising, and provide a framework for choosing the right advisor and setting yourself up for healthy, long-term financial growth.

What Was Covered

  • 2:57-Dictionary definition of “Fiduciary”
  • 3:34-The Fiduciary Standard & The History of Fiduciaries 7:02-Legal definitions of “Fiduciary”
  • 8:37-Bias and Conflicts of Interest for Financial Advisors 9:54-Different business models for financial advisors
  • 11:41-How many financial advisors are failing their clients 14:13-The bias of an advisor
  • 18:42-How to build your fiduciary knowledge
  • 19:48-Downsides of working with an advisor that charges hourly 23:39-Are you skeptical enough?
  • 24:15-The importance of indisputable math
  • 25:40-Independent scholarship
  • 26:40-Hold my beer, watch this
  • 28:51-Special online giveaway
  • 30:00-Weekly discipline for developing your financial wisdom 30:25-Diagnostics must precede treatment
  • 32:06-Be your own fiduciary!


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