When you visit a tax advisor
for tax help and advice, you probably just assume that the person you’re
working with has your best interests at heart. While it might seem like that
should be the case, it isn’t always. In fact, unless your tax advisor can
legally be termed a “fiduciary,” he or she is under no legal option to put
what’s best for you ahead of what’s best for him or her! Hopefully, that will
change in the near future, since the Labor Department and the Securities and
Exchange Commission are both pushing for more and more types of finance
professionals, including those who offer basic tax
help, to fall into the fiduciary category and to thus be held to the same
standards of those who currently uphold the title.
Really, though, what’s in a name? The trick isn’t so much to
choose financial advisors with the “fiduciary” title as it is to find advisors
with strong reputations in your community. A great example of such an advising
firm in Naperville is Susan S. Lewis, Ltd.
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