» » » My credit union offered me an appointment with a financial advisor after depositing an inheritance check. When she called I asked if she was a fiduciary. She said yes. When I showed up I found out she's actually a broker but "considers herself" a fiduciary. This is some bullshit, right?

My credit union offered me an appointment with a financial advisor after depositing an inheritance check. When she called I asked if she was a fiduciary. She said yes. When I showed up I found out she's actually a broker but "considers herself" a fiduciary. This is some bullshit, right?

,

I'm extremely annoyed. I feel that I've been subjected to a bait-and-switch. When she called to set up an appointment, I said "Before we do that, are you a fiduciary?" She said yes. I said "Great, I'd love to set up an appointment!" When I got there I saw a plaque on her desk saying she was a broker. I read online that a broker is NOT the same as a fiduciary. I asked her about it and she said, "Let me explain to you what a fiduciary is... blah blah blah... so I consider myself a fiduciary."

She thinks that I, 30, should invest my inheritance in a deferred annuity for retirement. I have ~60k earmarked for retirement and the rest of the inheritance earmarked for current emergency fund and paying off current bills.

submitted by /u/literallyoneuse to r/personalfinance
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