A fiduciary is a person who accepts a legal responsibility to act in the best interest of another person. A fiduciary must put the interests of the other person ahead of his or her own. In the investment world, a fiduciary duty is created when an individual gives discretionary trading authority to their advisor.
Perhaps surprisingly, the majority of investment advisors do not have discretionary authority and therefore do not owe a fiduciary duty to their clients.
At Polaris, this is not the case. As a discretionary firm we owe a fiduciary duty to our clients and therefore have a legal responsibility to put our clients’ interests ahead of our own.