A person or organization that self-portrays as acting as fiduciary, or rather according to the duty of the client's holistic best interests but is in fact just talking their own book and conforming client needs to those recommendations which possess advantageous financial outcomes over other alternative recommendations which are better suited for client objectives.
Scenario
Fidouchebag: "Hey, I'd like to help you meet your goals."
Client: "Cool! I'd like to retire when I'm 60, can you advise me how to do this?"
The RegRep
Fidouchebag: "As someone who passed their 7 and says smart sounding things about the markets, you should purchase these commission products and we'll switch in a year or so because there will be a fancy sounding market-based reason that will help you make such crazy high returns."
Client: "That sounds great - I guess that will help me retire..."
The IAR
Fidouchebag: "We personally manage multi-asset class portfolios of publicly- traded equity and fixed income securities directly on your behalf, which is so superior to products because we outperform them. We should manage for yearly fee 100% of your marketable assets because we will achieve better returns than other options"
Client: "That sounds great - I guess that will help me retire..."
The Financial Planner
Fidouchebag: "For an advisory fee, I'll tell you should invest in this or that because it's the next great thing and that you should spend less, save more, and take risk over long time periods because regardless of your retirement goal you can always have more."
Client: "That sounds great - I guess that will help me retire..."
Fidouchebag: "Hey, I'd like to help you meet your goals."
Client: "Cool! I'd like to retire when I'm 60, can you advise me how to do this?"
The RegRep
Fidouchebag: "As someone who passed their 7 and says smart sounding things about the markets, you should purchase these commission products and we'll switch in a year or so because there will be a fancy sounding market-based reason that will help you make such crazy high returns."
Client: "That sounds great - I guess that will help me retire..."
The IAR
Fidouchebag: "We personally manage multi-asset class portfolios of publicly- traded equity and fixed income securities directly on your behalf, which is so superior to products because we outperform them. We should manage for yearly fee 100% of your marketable assets because we will achieve better returns than other options"
Client: "That sounds great - I guess that will help me retire..."
The Financial Planner
Fidouchebag: "For an advisory fee, I'll tell you should invest in this or that because it's the next great thing and that you should spend less, save more, and take risk over long time periods because regardless of your retirement goal you can always have more."
Client: "That sounds great - I guess that will help me retire..."
by kfasz October 11, 2021
Get the Fidouchebag mug.Female version of a male douchebag. Works overtime on her look, makeup, hair, wardrobe, demeanor and virtually every characteristic which would entice males in public. She does this with no intention of hooking up, but rather to feed her insatiable appetite to build self-esteem.
The fouchebag walked through the club directly to the bar. Upon arriving she turned and quickly scanned the room to determine if her appearence generated any hysteria which would eventually land her free drinks.
by Toosh August 1, 2007
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You know that Ben Bernaknke turned out to be a real fidouche bag.
Secretary of the Treasury Tim Giethner is a real fidouche bag and his days are numbered.
Did you get the bank loan?
Nah, the loan officer turned out to be such a fidouche bag
Secretary of the Treasury Tim Giethner is a real fidouche bag and his days are numbered.
Did you get the bank loan?
Nah, the loan officer turned out to be such a fidouche bag
by day trader 55 January 27, 2010
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-Hey look at that Fouchebag, he needs a shower!
-I can't stand those Foucebags.
by BigGulpEh? May 1, 2009
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