An investment fiduciary is any person or organisation who has a role in managing someone else's money.

The role of a fiduciary is to manage a prudent investment process, and we believe every fiduciary must understand their duties and responsibilities.

PFS is dedicated to fiduciary excellence and industry best practice. At every step of the wealth management process, PFS advisers ensure their clients make informed choices, understand the risks they are accepting and the costs they are likely to incur.

As a guide, you should consider these Top 8 Fiduciary Questions for financial advisers:

1. Have you provided your clients with a written Investment Policy Statement, updated at least annually?
2. Do you meet with your clients at least annually to review portfolio performance and determine if goals and objectives are being met?
3. Do you personally review portfolio performance reports every quarter and measure against clients predetermined benchmarks?
4. Have you reviewed the possible range of returns your clients portfolio may experience over a one, three and five-year period, and reviewed the range at least annually?
5. Do you provide a written document describing the due diligence criteria for selecting and monitoring investments in your portfolio?
6. Do you provide a quarterly performance report detailing inception-to-date, year-to-date and quarter-to-date returns after all fees?
7. Do you provide a written document detailing investment fees and expenses?
8. Are you able to provide investment portfolio gain/loss statements on demand?

These questions are derived from Prudent Investment Practices: A Handbook for Investment Fiduciaries published in 2003 by the US-based Foundation for Fiduciary Studies.

Plan B Wealth Management Ltd and Plan B Trustees Limited are certified by the Centre of Fiduciary Excellence - an independent and globally recognized body auditing compliance and fiduciary practices.