Recognizing the difference between the fiduciary and suitability standards may also help you to appreciate the level of care you receive from a trusted financial advisor. Although the distinction between the fiduciary and suitability methods of offering advice is rarely discussed by “broker-led” large financial companies, we feel it is essential for investors to know the difference.

“Midwest Capital Advisors believes that adhering to the fiduciary standard creates the best experience and outcome for our clients.” – Hank Swain


Midwest Capital Advisors operates under the “Fiduciary Standard,” which is:

  • Put the client’s best interest first.
  • Act with prudence; that is, with the skill, diligence and good judgment of a professional.
  • Do not mislead clients; provide full and fair disclosure of all important facts.
  • Avoid conflicts of interest.
  • Fully disclose and fairly manage, in the client’s favor, unavoidable conflicts.


Broker dealers, insurance salespersons or any other financial company representative operate under the “Suitability Standard,” which is:

  • Know your client and their financial situation.
  • Recommend products that are suitable for their situation but not necessarily in the client’s best interest.