Anyone heard of The Foundation for Fiduciary Education

[Best_man23]

I received a flyer from this 501c organization called The Foundation for Fiduciary Education. They state their mission is to provide unbiased fiduciary financial education. I'm wary of these sorts of offers because for the most part, its some sort of lunch or dinner where they try to get you to move your investments over to their company.

Their website is: https://fiduciaryeducators.org/

They have in-person and webinar classes available. Having reviewed the website, I'm giving strong consideration to signing up for one or two of the webinars. Just looking to see if fellow DUers have heard about this group or possibly attended one of the in-person or webinar courses. I don't believe there is a cost associated with taking one of these courses.

Thanks in advance.

[A HERETIC I AM]

1. Never heard of them, but they are a 501(c)3...

So they don't have an interest in securing your portfolio.

Their "About" page says they're primarily educational, which is good.

They probably deserve a fair shake and a looking into if you think they offer something you can use.


https://fiduciaryeducators.org/about-us/

[bucolic_frolic]

2. Why do you feel you need to learn this?

My own opinion, I think you need to go to your local library and search for investment education, fiduciary education. Buttonhole a research librarian and explain what you're trying to learn.

I believe fiduciary education is more for professionals in the investment business who manage money for clients, or sell investment advice or packages to consumers, or even are assistant level or above fund managers for like a bank, boutique wealth firm, or even a known mutual fund company. If you plan to take fiduciary level education, you need to know a lot about investing to start. Time value of money, types of investments, market theories, overall economy, business cycles, a little accounting. If they're trying to bring fiduciary down to ordinary people I would have to ask why. At some point they're not being philanthropic. They might try to sell you something.

[Ansden]

3. Foundation for Fiduciary Education possible scam

According to this site https://talkingrealmoney.com/talking-real-money/2022/11/23/risky-financial-education|
it's a scam. The "education" provided is selling insurance products. Securities America, the FEE custodian, has received several disciplinary alerts from Investor.com. https://investor.com/rias/securities-america-advisors-110518

[Best_man23]

4. Thanks for the heads up

I haven't done anything with this since I got the flyer, and now I know what to do with it .

[Galan]

5. FFE not a scam

The Foundation for Fiduciary Education is a true 501c nonprofit dedicated to financial education and is unaffiliated with any investment firm, broker/dealer, or insurance company. FFE doesn’t sell or endorse any products, company, investments, insurance, etc. They provide various educational seminars on subjects such as Social Security, Long Term Care planning, Estate Planning, Medicare planning, etc. The classes are taught by various local financial professionals, all volunteers, with specific designations and training.
Absolutely no selling or product pitches are allowed or provided during the classes and that prohibition is clearly detailed in their literature and in the materials used for classes. The instructor can offer a follow-up meeting at a later date for anyone interested, but that is outside the scope of FFE, and again, that is fully disclosed in all FFE literature and presentations.
If someone had an issue with a financial rep, or the reps broker/dealer, they met through an FFE class, that is unrelated to and outside the scope of FFE and its educational classes. Local instructors are all independent from each other and come from a range of different financial backgrounds and firms. Some are accountants, some lawyers, some insurance sales, financial planners, investment advisors, etc.
Someone may have had an issue with a local instructor's broker/dealer, but that should not represent FFE or the hundreds of other independent professionals providing educational services through a legitimate educational nonprofit.

[Galan]

6. FFE provides financial education

The Foundation for Fiduciary Education is a true 501c nonprofit dedicated to financial education and is unaffiliated with any investment firm, broker/dealer, or insurance company. FFE doesn’t sell or endorse any products, company, investments, insurance, etc. They provide various educational seminars on subjects such as Social Security, Long Term Care planning, Estate Planning, Medicare planning, etc. The classes are taught by various local financial professionals, all volunteers, with specific designations and training.
Absolutely no selling or product pitches are allowed or provided during the classes and that prohibition is clearly detailed in their literature and in the materials used for classes. The instructor can offer a complimentary follow-up meeting at a later date for anyone interested, but that is outside the scope of FFE, and again, that is fully disclosed in all FFE literature and presentations.
If a separate meeting is voluntarily scheduled with the instructor or their firm at a later date outside the FFE class/seminar, then a product or service will probably be offered, such as estate planning, will prep, financial planning, investment management, life insurance, etc., depending on the class attended and the instructor’s business/background. These follow up appointments are unrelated to FFE.
Local instructors are all independent from each other and come from a range of different financial backgrounds and firms. Some are accountants, some lawyers, some insurance sales, financial planners, investment advisors, etc.

[progree]

7. The whole "fiduciary" thing is eye-wash. So-called fiduciaries can still earn commissions and fees on what

they sell you, so while they may pledge to the moon and to the stars that they are looking out for your interest, it's simply unrealistic to be unbiased when product A provides a higher commission to the "fiduciary" than product B.

Understanding that is the most important fiduciary education you can possibly receive.