Quote:
Originally Posted by MDFlyer
Michael L Whitaker holds himself and his company out to be a fiduciary. His ads and other material he puts out for his company also, either outright say he has to act as a fiduciary. In my opinion, anyone who is advising another person about what to do with their money should only be acting in the best interest of their clients, friend, or associates. Whitaker has always held himself and his company out to be a fiduciary to his clients. Many times breaching this responsibility for his own gain.
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A financial advisor or insurance salesperson is not required to be a fiduciary. And, on his website, I didn't find anything that says he is a fiduciary. In fact, this is an excerpt from his website:
"The calculations do not infer that our company, or the company providing the calculators, assumes any fiduciary duties."
So, he is specifically denying fiduciary duties.
Unless you have a written certification that he agrees to be your fiduciary, I think he will deny it a lawsuit. Any reputable financial advisor who is willing to advise you as a fiduciary will gladly give you a personal letter clearly stating the fiduciary relationship.