--- title: Burney Company – Fiduciaries since 1974 - Burney Investment Management description: The term “fiduciary” is often used in the finance industry, yet many investors do not understand the importance of having a fiduciary advisor managing their wealth.  What exactly does it mean to be a fiduciary and how does working with a fiduciary advisor benefit investors? What is a fiduciary? The main responsibility of a fiduciary ... image: https://burneyinvest.com/hubfs/Imported_Blog_Media/1Fiduciary-Blog.jpeg --- [Skip to content](https://burneyinvest.com/blog/burney-company-fiduciaries-since-1974#main-content) [![Burney Investment Management](https://burneyinvest.com/hs-fs/hubfs/theme/Burney_Invest_Color_Horizontal_%232b.png?width=300&height=110&name=Burney_Invest_Color_Horizontal_%232b.png "Burney Investment Management")](https://burneyinvest.com/) - About - [Company Overview](https://burneyinvest.com/about) - [Burney Difference](https://burneyinvest.com/the-burney-difference) - Strategies - [Size & Style Responsive](https://burneyinvest.com/strategies/size-style-responsive-ssr/) - [The Burney Master Portfolio](https://burneyinvest.com/strategies/the-burney-master-portfolio/) - [Personalized Portfolios](https://burneyinvest.com/strategies/personalized-portfolios/) - [Stock Selection](https://burneyinvest.com/strategies/stock-selection/) - [Team](https://burneyinvest.com/team) - [Resources](https://burneyinvest.com/blog) - [Get In Touch](https://burneyinvest.com/contact) 6.18.2019 # Burney Company – Fiduciaries since 1974 [Brenna Surette](https://burneyinvest.com/blog/author/brenna-surette) ![](https://20453469.fs1.hubspotusercontent-na1.net/hubfs/20453469/Theme/dots_y4.svg) ##### Popular Posts [How to Read VIX and VIX Term Structure](https://burneyinvest.com/blog/how-to-read-vix-and-vix-term-spread) [What Happened in the Stock Market Yesterday?](https://burneyinvest.com/blog/what-happened-in-the-stock-market-yesterday) [Performance Matters - 7 Steps Toward More Effective Investing](https://burneyinvest.com/blog/performance-matters-7-steps-toward-more-effective-investing) ![](https://burneyinvest.com/hubfs/Imported_Blog_Media/1Fiduciary-Blog.jpeg) The term “fiduciary” is often used in the finance industry, yet many investors do not understand the importance of having a fiduciary advisor managing their wealth.  What exactly does it mean to be a fiduciary and how does working with a fiduciary advisor benefit investors? ***What is a fiduciary?*** The main responsibility of a fiduciary is to [place client interests above their own](https://www.dol.gov/general/topic/retirement/fiduciaryresp). As a Registered Investment Advisor, we are held to the fiduciary standard [outlined by the SEC](https://www.investopedia.com/terms/i/investadvact.asp). It is important to differentiate that there are several financial professionals do not fall under this definition. Brokers, insurance agents, and others are held to the suitability standard. The suitability standard only requires professionals to make recommendations they deem appropriate, rather than recommendations that are in the best interest of their clients’ objectives. The suitability standard can result in professionals serving their own interests before the interests of their clients. Fiduciary versus suitability requirements have been a [heavy topic of debate](https://www.investmentnews.com/article/20190523/FREE/190529974/dol-sets-date-to-propose-new-fiduciary-rule) over the last several years, which has continued through 2019. As of now, the suitability standard is still accepted in the industry. ***What does the fiduciary role mean to us?*** As mentioned, to act as a fiduciary you need to place client interests above your own. This requires a level of integrity and trust, which is an overlapping theme emphasized at West Point Military Academy. As a graduating member from West Point, founder John C. Burney has carried over main pillars from his alma mater and applied them to the Burney Company. As General Mark A. Milley, Chief of Staff of the Army, states, “[we want \[leaders\] not only competent, but we want leaders of character.](https://westpoint.edu/character_pillar)” Moral, civic, and leadership facets are major drivers at West Point that can also play a significant role in finance. In 1974, Burney Company became one of the earliest advisory firms to become a Registered Investment Advisor in Virginia, and at the time, there wasn’t a road-map laid out to be a fiduciary. In fact, [it wasn’t until the 1980’s](https://www.tandfonline.com/doi/full/10.1080/17449359.2018.1476160) that fiduciary duties became more actively debated. Burney Company has been structured around integrity and serving clients with their best interests in mind. While the fiduciary standard is a requirement for Registered Investment Advisors, it is also a role in which we have taken pride from the start. [We do not sell high-fee investment products, nor do we receive compensation from brokerages.](https://burney.com/about/) We examine client objectives and determine the best course of action, based on what would be most beneficial to the client. Be wary of financial professionals who simply follow the suitability standard. If you are seeking advice, be sure to always ask, “Are you a fiduciary?” When it comes to your life savings, you don’t want to settle for suitable. Expect only the best from your financial advisors. --- *The Burney Company is an SEC-registered investment adviser. Burney Wealth Management is a division of the Burney Company. Registration with the SEC or any state securities authority does not imply that Burney Company or any of its principals or employees possesses a particular level of skill or training in the investment advisory business or any other business. Burney Company does not provide legal, tax, or accounting advice, but offers it through third parties. Before making any financial decisions, clients should consult their legal and/or tax advisors.* ## Articles you may enjoy 03.06.17 #### [Burney Company Portfolio Manager Recognized in Barron’s Top Advisors Rankings](https://burneyinvest.com/blog/burney-company-portfolio-manager-recognized-in-barron-s-top-advisors-rankings) [![](https://20453469.fs1.hubspotusercontent-na1.net/hubfs/20453469/Theme/circle_right.svg)](https://burneyinvest.com/blog/burney-company-portfolio-manager-recognized-in-barron-s-top-advisors-rankings) 02.24.15 #### [Lowell Pratt one of Barron’s Top 1,200 Advisors](https://burneyinvest.com/blog/barrons-top-1200-advisors) [![](https://20453469.fs1.hubspotusercontent-na1.net/hubfs/20453469/Theme/circle_right.svg)](https://burneyinvest.com/blog/barrons-top-1200-advisors) 06.18.15 #### [Burney Company Named to 2015 Financial Times 300 Top Registered Investment Advisers](https://burneyinvest.com/blog/2015-ft-top-300-ria) [![](https://20453469.fs1.hubspotusercontent-na1.net/hubfs/20453469/Theme/circle_right.svg)](https://burneyinvest.com/blog/2015-ft-top-300-ria) ![](https://burneyinvest.com/hubfs/theme/burney-invest-logo-white-1-1.png) - [Size & Style Responsive](https://burneyinvest.com/strategies/size-style-responsive-ssr/) - [Burney Master Portfolio](https://burneyinvest.com/strategies/the-burney-master-portfolio/) - [Personalized Portfolios](https://burneyinvest.com/strategies/personalized-portfolios/) - [Stock Selection](https://burneyinvest.com/strategies/stock-selection/) - [About](https://burneyinvest.com/about) - [Team](https://burneyinvest.com/team) - [Resources](https://burneyinvest.com/blog) - [Contact](https://burneyinvest.com/contact) **Headquarters** 1800 Alexander Bell Dr. STE 510 Reston, VA 20191 Advisory services are offered through the Burney Company, an investment advisor registered with the U.S. Securities & Exchange Commission. SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the advisor has attained a particular level of skill or ability. © 2026 Burney Wealth Management | [Research](https://burneyinvest.com/research) | [Privacy Statement](https://burneyinvest.com/privacy-policy) | [Terms & Conditions](https://burneyinvest.com/terms-and-conditions) | [Disclosures](https://burneyinvest.com/disclosures) | [ADV](https://44214779.fs1.hubspotusercontent-na1.net/hubfs/44214779/Burney%20Company%20ADV%20Part%202A%20IM%2026%20REV.pdf) | [Form CRS (ADV Part 3)](https://44214779.fs1.hubspotusercontent-na1.net/hubfs/44214779/Burney%20Company%20Form%20CRS_March%202026.pdf) ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Brenna Surette", "url" : "https://burneyinvest.com/blog/author/brenna-surette" }, "dateModified" : "2024-04-01T19:39:28.497Z", "datePublished" : "2019-06-18T12:44:57.000Z", "headline" : "Burney Company – Fiduciaries since 1974 - Burney Investment Management", "image" : [ "https://burneyinvest.com/hubfs/Imported_Blog_Media/1Fiduciary-Blog.jpeg" ], "mainEntityOfPage" : { "@id" : "https://burneyinvest.com/blog/burney-company-fiduciaries-since-1974", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://burneyinvest.com/hubfs/theme/Burney_Invest_Color_Horizontal_%232b.png" } } } ```