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Fiduciary Duty

Fee-Only Advisors Monitoring Your Account & Keeping In Touch

The STEVE ROBBINS, CFP® team consists of independent, objective fiduciary investment advisors who accept no payment or economic benefit from any source other than client fees for professional service. Serving the Florissant, Hazelwood, St. Louis Missouri and surrounding areas, we take our commitment to protecting your interests most seriously. This is why we pay close attention to matters of account security and stay in constant communication to ensure you always know how your money is doing.


Fiduciary Advisor

For years, most advisors have been required to follow a simple suitability standard. This means they are only expected to make recommendations that are considered "suitable" for their clients. To put it bluntly, this allows advisors to give advice that is primarily in his or her best interest, and not the client's best interest, as long as that advice can still be technically considered "suitable."

But there's another, higher standard that some advisors hold to. It's called the fiduciary standard. Advisors who are fiduciaries must put their clients' interests before their own. Even if the advice an advisor gives is less good for the advisor, they must give it if that's what is best for the clients they serve.

Under the new rules, any financial advisor who provides advice pertaining to retirement savings, qualified plans, or IRAs will be classified as a fiduciary.(1) That means many advisors who previously followed the "suitability standard" must now make a major change in how they do business.

So what does all of this mean for me? The answer is: Absolutely nothing.

You see, my team and I have been following the fiduciary standard for years. We've always put our clients' interests first. There are three reasons for this. One, because we know the only way we can be successful is if our clients are successful. Second, because our greatest passion is helping people work toward their financial goals, and we believe acting as fiduciaries is the best way to do it.

Third, and most importantly, we've always acted as fiduciaries because we believe it's just the right thing to do. So for us, it's business as usual. We don't expect to make any changes in how we take care of your retirement accounts, and we don't expect you to have to make any changes either.

(1) Mark Cussen, "Proposed DoL Rules: How They'll Impact Financial Advisors," Investopedia, Link


Safeguarding Your Investments

An important - and indelicate (so we'll ask it for you) - question is "how secure are my accounts?" "Who would have access to them?" STEVE ROBBINS, CFP® takes the security of client funds very seriously, and has adopted a number of "check and balance" systems to protect you.

Custodians

For instance, all client accounts are held - "custodianed" - at major, independent third party financial institutions, not at STEVE ROBBINS, CFP®. Pershing, L.L.C. is the custodian for our non-annuity client accounts. Jefferson National is the custodian for our clients with variable annuity accounts. Transfers go directly to the custodial institution, and when you want money, checks are sent directly to you from the institution. All accounts are titled directly in your name. All checks are to be made out directly from you to the custodian institution - never to STEVE ROBBINS, CFP® or its personnel.

Confidentiality

Likewise, we take the security of your personal, confidential information very seriously, and have a host of procedures to protect it, both in paper and electronic form. To view a copy of our company Privacy Principles detailing these procedures click here.


Ongoing Communication

We don't just tell you how much we care; we show you. Our fiduciary investment advisors encompass a deeply driven company obligation that you can feel. You receive in-depth quarterly statements that tell you exactly how your portfolio is performing. Online access to your account information is available daily through a secure user ID and password.

We touch base regularly (at least bi-weekly) via email to give you portfolio updates and invite you to call whenever you need help or have a question. We provide quarterly client update group meetings to review portfolio performance, holdings, and recent trades. These meetings also entail a discussion of current stock market and economic news and updates. Finally, we conduct personalized discussions with each client at least annually.

We believe trust is earned, not advertised. Our objective is to provide you with a quality of service and investment advice that is above and beyond your expectations.


Q: What happens if key personnel die or retire?

A: As part of our required disaster recovery plan, we have written systems in place for continued management of your portfolios in the event of the loss of one or more key personnel. Although our internal office entails a staff of four, we are supported by outside parties in order to assure continued monitoring and management of your investments in the event of a disaster or death. All STEVE ROBBINS, CFP® accounts are custodied at Pershing, L.L.C. and titled directly in the names or trusts of our clients. As such, your accounts would remain at Pershing, L.L.C. in your name. Pershing, L.L.C. is the industry's largest global business solutions provider, with more customers who clear with them than any other firm. For more information about Pershing, L.L.C. visit the "About Us" section of their website. In addition, through our association with Envestnet Asset Management, Inc., your accounts would remain accessible via online account viewing, continued daily account aggregation, transaction and cost basis reporting. Any systematic withdrawals or investments that have been set up would also continue through their platform and association with Pershing, L.L.C. Envestnet is one of the largest providers of wealth management solutions in the financial industry. For more information about Envestnet, click here.

Both Steve Robbins and Lisa Avenevoli are Registered Investment Advisors of STEVE ROBBINS, CFP®. They both maintain the ongoing educational and ethical qualifications associated with their Certified Financial Planner Professional designations. Isabel Raycraft is a Certified Fund Specialist and responsible for assisting with research, monitoring, management and placing trades for all client accounts. All staff is well-versed in the methodology, resources and research tools used to manage and make trade decisions on client portfolios. All personnel is also familiar with the activities involved in running our firm and providing services to our existing clients. The loss of any one or two of us could be handled by the remaining staff, albeit with some outside assistance from the aforementioned institutions we are associated with. Our systems are designed to avoid disruption of our ability to continuously deliver results and service to our clients. Our policies and procedures are in place to engender continuity of service, excellence, and the firm's dedication to its values and your needs and goals.


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The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.
Investment Advice offered through Steve Robbins, Inc., a Registered Investment Advisor. Registration as an investment advisor does not constitute an endorsement of the firm by securities regulators nor does it indicate that the advisor has attained a particular level of skill or ability. Steve Robbins, Inc. only transacts business in states where it is properly registered (currently Illinois, Missouri and Texas), or is excluded or exempted from registration requirements. Information on this website is directed toward U.S. residents only. 
Information on this website is believed to be factual and up-to-date, but we do not guarantee its accuracy and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the authors as of the date of publication and are subject to change. Hyperlinks on this website are provided as a convenience and we disclaim any responsibility for information, services or products found on websites linked hereto.
The content of this website should not be construed as legal, estate planning, or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation. The firm is not engaged in the practice of law.
Articles in the Information section of the website were prepared by a third-party journalist who is not affiliated with Steve Robbins, CFP. Information on this website does not involve the rendering of personalized investment advice. A professional advisor should be consulted before implementing any of the options presented.
Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment will either be suitable or profitable for a client’s investment portfolio.

*We were the recipient of the Best of North County Award for financial and investment advice in 2016. As voted by over 4000 residents and Community News readers in the following zip codes: 63031, 63033, 63042, 63135, 63136, 63138, 63032, 63034. The Community News ran this annual voting process for eight consecutive weeks in January and February 2016.