A clearly defined and repeatable process is necessary to maintain fiduciary standards at all times. In order to incorporate the holistic fiduciary standards required of a Certified Financial Fiduciary® into everyday practice, financial professionals must consider multiple factors from a holistic planning standpoint. All planning and client engagement should begin with the gathering of relevant information (both qualitative and quantitative) followed by thorough documentation and recording of the facts. Financial professionals must prudently consider all aspects of a financial plan prior to providing any advice or recommendations relating to it. They must also ensure that these in compliance with This article provides the guidance necessary to implement the eight stages of the holistic fiduciary practice model.
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