Fiduciary Duty

A Matter of Principle & Law

Founding principal Peter LaBella was the first Registered Investment Advisor in the central Pennsylvania region to become a fiduciary, all the way back in 1982. He made the conscious decision to forgo significant revenue from commissions and other hidden fees and incentives to elevate his practice to the very highest standard of care: the fiduciary duty.

For Peter, it was a matter of principle, driven by the conviction it was more important to do what was right for his clients, not what was most profitable for himself. So he realigned his business to remove any potential conflicts of interest, assuring that his clients’ interests were always placed ahead of his own.

A fiduciary’s highest duty is to the client or beneficiary he serves - it is a matter of law.

The Difference


John and Scott each spent decades on the fiduciary side of the investment business prior to joining Peter at FMA. Their experiences as fiduciary investment managers in the trust departments of Wilmington Trust and JPMorgan were natural compliments to Peter’s long-standing vision for FMA: clients always come first.

Brokers and broker-dealers, on the other hand, are held to the much lower standard of suitability, which simply requires that their recommendations be “suitable” for their customers at the time of sale. A broker’s highest duty is to the firm that employs him, not the client to whom he or she can sell products. Brokers are free to recommend investments which pay handsome commissions and lucrative fees, even if those products are known to be inferior to other similar vehicles. The only requirement is that the proposed investment be “suitable”, there is no further duty to the client beyond the sale.

What It Means to be a Fiduciary

As fiduciaries, we ensure that the financial advice we provide you is objective and unbiased. Learn how we act in your best interest in this video.

video fiduciary

FMA Logo home retina

With a reputation for Straight Talk and strategic financial guidance, our team helps our clients build wealth and control their financial futures.

FMA Advisory, Inc. is a Top-Rated Financial Advisory Firm in Harrisburg, PA.

Our Services

Contact Us

1631 North Front Street
Harrisburg, PA 17102

Office: (717) 232-8850
Fax: (717) 232-7737

Subscribe to Our Email

Submit your email address to receive relevant financial information, including our periodic editions of "Straight Talk".

Sign Up Today!
Please enter your email!