Which statement would you rather have provided to you by your financial advisor?

• Fiduciary Statement: “Your account is an advisory account. Our interests are always the same as yours. We have no conflicts of interest; therefore, we always act in your best interests. We are only paid by you; we are never compensated by companies that create the products you buy. Our compensation is clearly disclosed in a written agreement signed by both parties.”

or

• Non-Fiduciary Statement: “Your account is a brokerage account and not an advisory account. Our interests may not always be the same as yours. Please ask us questions to make sure you understand your rights and our obligations to you, including the extent of our obligations to disclose conflicts of interest and to act in your best interest. We are paid both by you and, sometimes, by people who compensate us based on what you buy. Therefore, our profits, and our salespersons’ compensation, may vary by product and over time.”

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