Are CFPs Fiduciaries? What Every San Diego Investor Should Know

If you’re searching for trustworthy financial advisors in San Diego, one of the first questions you should ask is: Is this advisor a fiduciary? For the team at Fee Only Planners, the answer is a resounding yes. Led by Les Merrithew and Brandon Thorsten, we are fiduciary CFP professionals offering the kind of objective, personalized financial planning San Diego residents deserve.

We believe your financial plan should be about you — your goals, your future, and your peace of mind. Not about hidden commissions or product pushes.

What Is a CFP and Why Should You Care?

A Certified Financial Planner (CFP) is a financial advisor who has gone through a rigorous certification process. That includes coursework, a difficult exam, thousands of hours of hands-on experience, and a legal and ethical commitment to act as a fiduciary.

In other words, not all financial advisors are CFPs. And not all advisors are fiduciaries. But all CFPs — including those at Fee Only Planners — must act in your best interest at all times.

What Fiduciary Duty Really Means

Being a fiduciary isn’t just a label. It’s a set of enforceable legal and ethical standards. Here are the three core components of fiduciary duty:

Duty of Loyalty

Your interests come first. Always. A fiduciary CFP avoids conflicts of interest, and when they do exist, discloses them clearly.

Duty of Care

Your financial plan is built using the same level of skill and diligence that a prudent professional would apply to their own finances.

Duty to Follow Instructions

A fiduciary CFP respects your wishes and goals, following lawful directions and tailoring your plan accordingly.

At Fee Only Planners, our team follows all three pillars with every client relationship. You’ll never wonder if we’re steering you toward a product because of a back-end commission—because we don’t earn them.

Fiduciary CFPs vs Non-Fiduciary Advisors

Here’s where things get real: not every “financial advisor” is working in your best interest. Some are brokers. Some are insurance agents. Some only have to meet a “suitability standard,” which means they can recommend products that are okay, even if they’re not the best for you.

CFPs, on the other hand, must act as fiduciaries. That makes them ideal for people seeking comprehensive financial planning in San Diego that aligns with long-term goals like retirement, education funding, or legacy planning.

Why Work with Fee Only Planners in San Diego?

We’re not just fiduciary CFPs—we’re also San Diego locals who understand the unique opportunities and challenges that come with managing wealth in this city. Whether you’re a business owner in La Jolla, a young professional downtown, or a retiree in Del Mar, our approach to wealth management in San Diego is built around you.

Our Approach:

• Personalized Financial Plans based on your goals and timeline

• Tax-Efficient Investing to protect and grow your assets

• Estate & Retirement Planning tailored to California’s landscape

• Transparent Fee Structure with no commissions or hidden costs

We offer a rare combination: cutting-edge financial planning tools and a local team that treats you like family.

How to Identify a Fiduciary CFP

Before hiring any San Diego financial advisor, ask these simple questions:

• Are you a fiduciary 100% of the time?

• Do you receive commissions from any financial products?

• Will you put that in writing?

If they hesitate or can’t answer clearly, that’s a red flag. With Fee Only Planners, the answers are simple: Yes, No, and Absolutely.

Certifications Matter (But So Does Trust)

It’s easy to be overwhelmed by financial credentials. CFP, CFA, CPA… what does it all mean?

At Fee Only Planners, Les Merrithew and Brandon Thorsten hold the fiduciary CFP designation—widely recognized as the gold standard for financial advisors. It means we’ve passed strict ethical standards, completed thousands of hours of financial planning work, and continually maintain our expertise through continuing education.

You’re not just hiring a financial advisor. You’re gaining a long-term partner who’s legally and ethically required to put your interests first.

The Bottom Line: Work With Fiduciary CFPs You Can Trust

The question isn’t just “Do I need a financial advisor?” It’s “Do I need a fiduciary CFP who will prioritize my goals, not theirs?”

If you’re ready to get serious about your finances, reach out to Les and Brandon at Fee Only Planners. We’ll help you understand your full financial picture, create a smart strategy, and stick with it for the long haul.

Give us a call at (858) 547-1845 for a quick intro or contact us here.*This content is developed from sources believed to be providing accurate information. The information provided is not written or intended as tax or legal advice and may not be relied on for purposes of avoiding any Federal tax penalties. Individuals are encouraged to seek advice from their own tax or legal counsel. Individuals involved in the estate planning process should work with an estate planning team, including their own personal legal or tax counsel. Neither the information presented nor any opinion expressed constitutes a representation by us of a specific investment or the purchase or sale of any securities. Asset allocation and diversification do not ensure a profit or protect against loss in declining markets. This material was developed and produced by Fee Only Planners to provide information on a topic that may be of interest. Copyright 2024 Fee Only Planners.