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Fiduciary Oath, Code of Ethics & Standard of Care

Fiduciary Oath

As members of the military and veteran community we are no strangers to what it means to make an oath for the greater good. We believe in the values of honesty and integrity even if that means we must sacrifice in some way to uphold those values. At Stars & Stripes Financial Advisors we have volunteered to take the Fiduciary Oath. This means that all of our advisors have the legal and ethical duty to put their client's best interests above their own thereby upholding the confidence, good faith, and trust vested in them.

It may surprise you to find out that most financial advisors have not taken the fiduciary oath and therefore are not held to the fiduciary standard. This means there is nothing stopping them from providing advice that is only "suitable" for their clients, but may fall far short of what is in their client's best interest. The key difference between a financial advisor who is a fiduciary and a typical financial advisor who is not a fiduciary lies in the requirements that distinguish them. Chief among these differences is the mandate for fiduciaries to provide advice that is in the best interest of their client.

When choosing your financial advisor you should ask yourself if you want suitable financial advice or if you want advice that is in your best interest. Do you really want to take advice from someone who is not willing to make that commitment to their clients?

During our time in the military we were held to a high standard. Shouldn't your financial advisor be held to a high standard too? At Stars & Stripes Financial Advisors we believe military members, veterans and their families deserve more than just the minimum. That is why when it comes to the financial advice we provide, we insist that it is advice that is in your best interest.

At Stars & Stripes Financial Advisors we do not work on commissions or make money from kick-backs so you can trust that the advice you receive from us is not influenced by third parties. The only way we get paid is by you, and that's the way we think it should be. Our advice is straight forward and delivered with the honor and integrity you deserve as a member of the military and veteran community.

A fiduciary duty is the highest standard of care that a financial advisor, or arguably any professional, can adhere to. It means that the advisor is legally required to put your interests ahead of their own at all times and in all dealings.

We have committed ourselves to the following five fiduciary principles

We have committed ourselves to the following five fiduciary principles

  1. We will always put your best interests first.
  2. We will act with prudence; that is, with the skill, care, diligence, and good judgment of a professional.
  3. We will not mislead you, and we will provide conspicuous, full, and fair disclosure of all important facts.
  4. We will avoid conflicts of interest.
  5. We will fully disclose and fairly manage, in your favor, any unavoidable conflicts.

Please read further on the NAPFA website

Code of Ethics

Our financial advisors are CFP® professionals and as such they are bound to a code of ethics. This code of ethics includes the following key principles that they must adhere to:

  1. Act with honesty, integrity, competence, and diligence.
  2. Act in the client's best interest.
  3. Exercise due care.
  4. Avoid or disclose and manage conflicts of interest.
  5. Maintain the confidentiality and protect the privacy of client information.
  6. Act in a manner that reflects positively on the financial planning profession and CFP® certification.

As you can tell, many of these principles are similar to those we adopted and swore to uphold when we joined the military.

Standards of Conduct

Our CFP® holders must also conduct themselves according to the Standards of Conduct set forth by the CFP board of Standards. Among these standards are 15 duties owed to clients. These include the following:

  1. Fiduciary Duty
  2. Integrity
  3. Competence
  4. Diligence
  5. Disclose and Manage Conflicts of Interest
  6. Sound and Objective Professional Judgement
  7. Professionalism
  8. Comply with the Law
  9. Confidentiality and Privacy
  10. Provide Information to a Client
  11. Duties when Communicating with a Client
  12. Duties when Representing Compensation Method
  13. Duties when Recommending, Engaging, and Working with Additional Persons
  14. Duties when Selecting, Using, and Recommending Technology
  15. Refrain from Borrowing or Lending Money and Commingling Financial Assets

As you can see we set high standards for our financial advisors and expect the best from them on your behalf. If you would like to learn more about the CFP® Board's Standards of Care or Code of Ethics please visit their website.

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