When seeking financial advice, you want someone you can trust—someone who puts your needs first. That’s where a fiduciary comes in. But for Christian financial advisors, this standard of care goes beyond legal obligations; it’s rooted in faith and a commitment to Christ’s teachings.
What Is a Fiduciary?
A fiduciary is a financial advisor legally required to prioritize your interests above their own. This obligation, established under the Investment Advisers Act of 1940, ensures advisors act in your best interest, avoiding conflicts that could harm your financial well-being.
Sounds like common sense, right? Any honorable advisor should naturally put their clients first. Unfortunately, history tells a different story. There have been times when financial advisors, brokers, and others pursued their own interests at the expense of everyday investors. This led to the creation of the fiduciary standard—a legal safeguard to protect you.
Why a Fiduciary Standard Matters
The fiduciary standard is critical because it holds advisors accountable. According to the Advisers Act, “an adviser is a fiduciary whose duty is to serve the best interests of its clients, which includes an obligation not to subrogate clients’ interests to its own.” In plain terms, your advisor must act with integrity, ensuring their recommendations benefit you, not just their bottom line.
This legal requirement is a good thing—it promotes trust and transparency. But as a Christian, I believe there’s an even higher standard we’re called to follow.
A Christian Perspective on Fiduciary Duty
As a Christian man, I’ve spent much of my life striving to follow Christ’s teachings. Like many, I fall short often but keep pressing forward. When I entered the financial services industry and learned about the fiduciary standard, I was surprised. Why would anyone need a law to compel them to put their clients’ needs first? Then it hit me: this principle felt familiar because it echoed the teachings of Jesus.
Christ calls us to love others selflessly, to consider their needs above our own. For Christian financial advisors, this isn’t just a legal duty—it’s a spiritual one. We’re not only bound by law to act in our clients’ best interests but eternally called to serve all people with humility and care, reflecting Christ’s love.
Beyond the Law: A Higher Calling
Laws are important, but they’re not permanent. They evolve, shift, and can be interpreted in different ways. The call of Christ, however, is unchanging—“the same yesterday, today, and forever” (Hebrews 13:8). As Christians, we’re invited to live as fiduciaries in every aspect of life, treating others as more important than ourselves (Philippians 2:3).
This perspective transforms our work. While the fiduciary standard is a legal necessity for many advisors, for Christians, it’s a privilege. We believe we’re blessed when we serve others with integrity, whether they’re clients or strangers. It’s not about compliance; it’s about obedience to a higher calling.
Choosing a Financial Advisor
When selecting a financial advisor, choosing a fiduciary is a smart step. It ensures your interests come first. But for those who share a Christian faith, consider an advisor whose commitment to you is grounded not just in law but in the timeless principles of Christ’s teachings. That’s the service we strive to provide at Greenway Financial Planning.