As an Investment Advisor, Waycross is a fiduciary, which means we have a legal duty to act solely in your interest. This duty is central to our relationship with our clients.
Financial planners, broker-dealers, and wirehouses may not be Investment Advisors or fiduciaries. If they are not fiduciaries, they are only obliged to recommend “suitable” investments, without necessarily disclosing the fees and commissions associated with those investments. Our fiduciary duty is far stricter. It’s not enough for us to simply provide “suitable” recommendations. For example, as a fiduciary, we may reject an investment that meets the definition of suitable, but is a partnership that has hidden tax liabilities and expenses; a broker-dealer or financial planner may not make the same decision.
A broker can offer a client a particular mutual fund and say it is suitable and should benefit the client. If the broker is receiving a portion of the related expenses of that investment, the broker is not acting solely in the interest of the client. When you select Waycross, you are selecting a company where this sort of conflict isn’t possible.
When you select Waycross, you are selecting a company that won’t create confusion about where our interests lie and who ultimately benefits from the decisions we make. Every decision we make on your behalf is made to benefit you. Period.