Rutland, Vermont Doctors: the Value of a Fee-Only Fiduciary

By Financial Advisor Carrie McDonnell.

In three paragraphs, we will summarize why a doctor in our Rutland, Vermont area should use a fee-only fiduciary.

1. What is a fee-only fiduciary?

A fee-only fiduciary represents only you. Loyalty is not conflicted. Both legally and ethically, you as the client must come first; you are the only customer. This means there are no commissions for product sales allowed.
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2. Is this really relevant to the Rutland, Vermont region where I practice medicine?

Rural, or rural-ish, areas are subject to the same concerns in investing as suburbs or cities. In some ways the conflicts of interest can be worse or at least they can form more easily. National firms that are not fiduciaries often have local professionals on the ground. They are friendly people and know much of the community. But remember, you want a money manager to do excellent financial work as a fee-only fiduciary. Friends can stay friends at the soccer field.
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3. Why is it particularly important for a doctor to hire a fee-only fiduciary?

Whether you work for Rutland Regional Medical Center, Mount Ascutney, Dartmouth Hitchcock, or you’re an independent doctor in Rutland County, Vermont, you do not have the time to pay attention to every financial decision. Your financial advisor must act in your interest, without you supervising every move.

Links that may be of interest to Rutland, VT doctors:

Understand our low fees.
Read about index fund investing.
Understand One Day In July’s comprehensive approach.

Carrie McDonnell is a local advisor based in Rochester, Vermont. She is available for financial advisory meetings in Rutland, VT. Fill out the form below or call her at (802) 829-6954 to schedule a meeting.