Welcome to the Jill on Money Podcast. It is Tuesday, September 29th. The month of September

just blew by. Talk about a blur. Whoof. It's nuts. All right, so here we go. We're about to

embark on the end of the month ritual of everyone's going to get statements, month to date, you're going to get all nuts, don't worry about it, okay?

Everyone calm down.

Your long-term investors, your long-term about your life, let's get your financial life in order. Let's try to answer your

question so you don't drive yourselves crazy or maybe even your family members

crazy. All you need to do is to send us an email. Ask Jill on Money.com.

That's Ask Jill at Jill on Money.

Okay, this is from Heather who wants to know the difference between a financial planner and a fiduciary.

Now here's what she writes.

I understand that a financial planner receives kickbacks from funds or insurance products as well as a management fee.

While with a fiduciary we have to hire someone pay an upfront fee and then we get inside into additional fees. Okay, hold on. A financial

planner is somebody who is supposedly trying to do comprehensive financial planning for you.

All right? Now, financial planners can be fiduciaries. A fiduciary means that that person has to put your best interest before her own interest or her company's interest.

Okay? Now, what you're describing is kind of a difference of fee structures which doesn't

necessarily mean that somebody is a fiduciary or not so let me give an example

there are some fiduciaries that will not take commissions at all.

There are other fiduciaries who say, well, in certain cases, maybe paying a commission is actually a better thing for you.

So it's important to understand

that there's a distinction.

A financial planner big picture category

is, hey, we do like your macro stuff,

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