Putting our Clients’ Interests above my own

Sorry for the time in between now and my last blog, but we have been busy creating our own Registered Investment Advisor under Boon Capital Advisors.  People have asked why we did this and why I would give up my Broker Dealer License.

The decision was pretty easy and it came down to 3 reasons:

1.        We have always run a fee based transparent business and there was no need for a Broker Dealer  License since we do not charge any commissions.

2.        Having our own RIA means that we can move in the direction that is best for clients without influence from anyone else.

3.       Most Importantly – As an RIA you have to uphold a “fiduciary duty.”  Simply put, you have to put your clients’ interests above your own.

As a Broker Dealer, the rules only require that the investment is suitable for a client.  That means a Broker could recommend a fund with high fees, a bad track record and that pays a high commission, but still find that it’s suitable for their client.

Transparency and putting clients’ interests first has always been at the heart of Boon Capital Advisors and it will always be.