What Is a Fiduciary?


Definition: “A fiduciary is a person or organization that acts on behalf of another person or persons, putting their clients’ interests ahead of their own, with a duty to preserve good faith and trust. Being a fiduciary thus requires being bound both legally and ethically to act in the other’s best interests.”

Now, contrast that with this definition:


Definition: “Broker-dealers have to fulfill what is called a “suitability obligation,” which is loosely defined as making recommendations that suit the best interests of their client. Some broker-dealers feel this is unfair as it may affect their ability to sell investment vehicles that benefit their bottom line, but all a suitability obligation means is that the broker-dealer needs to believe that the decisions they make truly benefit their client.”

Read those definitions again. Everything you need to know about the word “fiduciary” is in these two definitions.

Ultimately, your financial planner and the company they represent is either willing to declare they are a stated full-time fiduciary, or they are not. If they are not, does that make them “unqualified” or “bad.” No. It simply means they are not willing to hold themselves to the legal standard of declaring that they will place your interest above their own.

However, what Tencap asserts is that you are far more likely to invest in products, funds and accounts that are intelligent and prudent, working with an advisor and a company that is willing to hold themselves to the higher legal fiduciary standard; one that demands that you, the client, are at the forefront of each recommendation.


You can count on the financial advisors of Tencap Wealth Coaching to hold to the fiduciary standard. We offer recommendations and advice that place your interests first.


All content is for information purposes only. It is not intended to provide any tax or legal advice or provide the basis for any financial decisions. Nor is it intended to be a projection of current or future performance or indication of future results.

Opinions expressed herein are solely those of Tencap Wealth Coaching and our editorial staff. The information contained in this material has been derived from sources believed to be reliable but is not guaranteed as to accuracy and completeness and does not purport to be a complete analysis of the materials discussed. All information and ideas should be discussed in detail with your individual adviser prior to implementation. Advisory services are offered by Tencap Wealth Coaching, an Investment Advisor in the State of Utah. Being registered as an investment adviser does not imply a certain level of skill or training.

  • Tencap Wealth Coaching is not affiliated with or endorsed by the Social Security Administration or any other government agency.
  • Insurance products and services may be offered through Tencap Wealth Coaching.

The information contained herein should in no way be construed or interpreted as a solicitation to sell or offer to sell advisory services to any residents of any State other than the State of Utah or where otherwise legally permitted.

Images and photographs are included for the sole purpose of visually enhancing the website. None of them are photographs of current or former Clients. They should not be construed as an endorsement or testimonial from any of the persons in the photograph.

Purchases are subject to suitability. This requires a review of an investor’s objective, risk tolerance, and time horizons. Investing always involves risk and possible loss of capital.

Links to Other Sites

The inclusion of any link is not an endorsement of any products or services by Tencap Wealth Coaching. All links have been provided only as a convenience. These include links to websites operated by other government agencies, nonprofit organizations and private businesses. When you use one of these links, you are no longer on this site and this Privacy Notice will not apply. When you link to another website, you are subject to the privacy of that new site. 

When you follow a link to one of these sites neither Tencap Wealth Coaching, nor any agency, officer, or employee of Tencap Wealth Coaching warrants the accuracy, reliability or timeliness of any information published by these external sites, nor endorses any content, viewpoints, products, or services linked from these systems, and cannot be held liable for any losses caused by reliance on the accuracy, reliability or timeliness of their information. Portions of such information may be incorrect or not current. Any person or entity that relies on any information obtained from these systems does so at her or his own risk.