Fiduciary  fi·du·ci·ar·y, noun

From the Latin fiducia, meaning “trust”, a person or business who has the power and obligation to act for another under circumstances which require total trust, good faith and honesty – Dictionary.law.com

For an advisor, being a fiduciary means that they act in the best interest of their clients.  While you may assume that every advisor or broker works as a fiduciary, that’s not the case.  Many won't accept, or are not allowed (by their employer) to accept a fiduciary responsibility.  Think about that.  If your interests are not first, who’s are? 

Advisors & brokers that are not fiduciaries only have to meet the lower “suitability standard”.  That means recommended products or actions only have to be generally suitable for a client’s circumstances. Unfortunately, many financial products are sold under the suitability standard, but may not be the best thing for the client.