Back Bay Financial Group, Inc.

Company
Core Values


Why Fee-Only?

Fiduciary Oath

BBFG practices Wealth Management with a commitment to personalized, ethical service. Central to our values is the NAPFA Fiduciary Oath and Code of Ethics (see below).

As Fiduciaries, our Wealth Managers must put the client’s interests first, not their own. We must disclose an actual or potential conflict of interest and our compensation must come from clients, not the commissions on the investment products we recommend or the referral fees from other advisors.

As part of our Fiduciary commitment, each of our Wealth Managers abides by the CFP® Code of Ethics and Responsibility that stipulates:

  • Integrity - A CFP® designee shall offer and provide professional services with integrity.
  • Objectivity - A CFP® designee shall be objective in providing professional services to clients.
  • Competence - A CFP® designee shall provide services to clients competently and maintain the necessary knowledge and skill to continue to do so in those areas in which the designee is engaged.
  • Fairness - A CFP® designee shall perform professional services in a matter that is fair and reasonable to clients, principals, partners and employers and shall disclose conflict(s) of interest(s) in providing such services.
  • Confidentiality - A CFP® designee shall not disclose any confidential client information without the specific consent of the client unless in response to proper legal process, to defend against charges of wrongdoing by the CFPTM designee or in connection with a civil dispute between the CFP® designee and the client.
  • Professionalism - A CFP® designee’s conduct in all matters shall reflect credit upon the profession.
  • Diligence - A CFP® designee shall act diligently in providing professional services.
Why Fee-Only?

Back Bay Financial Group is a Fee-Only Wealth Management firm and a member of the National Association of Personal Financial Advisors (NAPFA). All NAPFA members must sign and abide by the NAPFA Fiduciary Oath, which ensures that an advisor is is legally obligated to maintain an allegiance of confidentiality, trust, loyalty, disclosure, obedience and accounting to his or her clients.

We can remain unbiased in our relationship with you because we accept no commissions or referral fees when we implement recommendations for you. Fee-Only is more than a method of compensation; it is an objective way of practicing financial planning that assures our clients that we follow a strong code of ethics, continually expand our education by complying with annual CEU requirements, and provide comprehensive, ongoing wealth management planning.

The result is unbiased financial advice created by our Wealth Managers who are committed to acting as a fiduciary in a client-centered relationship. As a fiduciary, Back Bay Financial Group strives to provide a relationship with you that will be practiced in good faith, trust, confidence, and candor. This special relationship of trust established by law is similar to the relationship one has with an attorney or doctor.

 

NAPFA Fiduciary Oath

The advisor shall exercise his/her best efforts to act in good faith and in the best interests of the client. The advisor shall provide written disclosure to the client prior to the engagement of the advisor, and thereafter throughout the term of the engagement, of any conflicts of interest, which will or reasonably may compromise the impartiality or independence of the advisor.

The advisor, or any party in which the advisor has a financial interest, does not receive any compensation or other remuneration that is contingent on any client’s purchase or sale of a financial product. The advisor does not receive a fee or other compensation from another party based on the referral of a client or the client’s business.

When an advisor acts in a fiduciary capacity that advisor is legally obligated to maintain an allegiance of confidentiality, trust, loyalty, disclosure, obedience and accounting to his or her clients.

 

 
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