Does the CFP® guarantee my financial advisor is a qualified fiduciary?

No. By no means does any advisor designation guarantee competency. Nor does it ensure the firm at which the advisor works is fiduciary.

It’s good to see that an advisor or especially, a financial planner has passed their exams, but don’t assume it means more than just that.Do not let this credential give you a false sense of security about the advisor or his firm.

Watch my interview about fiduciary fee-only financial advisors.