A fiduciary is defined as someone acting in a position of trust on behalf of or for the benefit of a third party. The term fiduciary can be divided further into these three groups:
Investment Steward -- A person who has the legal responsibility for managing investment decisions (trustees and investment committee members).
Investment Manager – A professional who has discretion to select specific securities for separate account, mutual funds, commingled trusts, etc.
Investment Advisor – A professional who is responsible for managing comprehensive and continuous investment decisions (trust officers, fiduciary advisors, investment consultants).
Furthermore, a Fiduciary Advisor is required to act with undivided loyalty to the client, including disclosure of conflicts of interest or any compensation being received. A Fiduciary Advisor will not be swayed by outside forces when recommending investments and will put all of the above in writing….and SIGN IT!
Paramount Investment Advisors, Inc. is a fee only, Registered Investment Advisory firm providing comprehensive wealth management including financial planning, investment management, tax planning, estate planning, cash flow management, risk management, education planning and retirement planning. We are currently serving the Suwanee, Buford, Sugar Hill, Duluth, Johns Creek, Cumming, Alpharetta, Roswell, and surrounding cities in North Atlanta out of our Suwanee Georgia office. We also work with clients virtually by using technology to our advantage.