This was quite the topic in the aftermath of the COVID pandemic, but a lot of people didn't know how it works and why they should care. Financial Advisor Thomas Reilly breaks down what Inflation is and what you should do if the rates go higher or lower.
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As always, the team at Strategic Wealth Designers are proud to be independent fiduciary financial advisors, meaning our fiduciary advisors operate using the fiduciary standard, so we always act with what is in your best interests. Not all financial advisors are created equally, and most financial advisors only need to meet the suitability standard, meaning they can offer you almost anything, as long as it is suitable for you. Now at first that doesn't sound too bad, but when you think about it, couldn't any investment technically be suitable? Doesn't sound so great anymore, especially when the products they tend to offer either generate them a higher commission or generates the company they work for a higher commission and they tend to offer products based on company quotas over your best interests. This is why you should always seek out a fiduciary financial advisor and if you are curious if your advisor is a fiduciary, simply ask them, if they don't give you a straight answer, odds are they only have to operate under the suitability standard.
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