This is not my usual place to speak about financials, but recently this has become a topic of major significance. More specifically, I am talking about your financial advisor. Your financial advisor must put your interests first.

The problem is that many, but certainly not all, financial salespeople are compensated based on the fees and commissions they generate.

So, how do you know if your financial  advisor is acting in your best interest? There is a term called "fiduciary". Fiduciary signifies that the advisor is legally bound to act in the best interest of their investor clients.

Make sure your financial advisor is a registered fiduciary. Some brokers, however, will tell you that they are able to act as both your fiduciary and salesperson...alternating between the two (typically depending on which role pays the most) without taking 100% fiduciary responsibility 100% of the time.

You can take the following steps to safeguard your assets:

1. Require all financial professionals working with you to sign fiduciary aggreement. Ask your attorney to draft the agreement and have it notorized.
2. Ask your financial professional how he or she is compensated.
3. Request a financial advisors' rerferences and ask those references whether they found that advisor honest and competant.

These simple steps will truly show who is willing to act as your fiduciary and act in your best interest.