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COURSE DESCRIPTION
Every fiduciary practice starts with a set of structural decisions that shape everything that follows: your liability exposure, your tax treatment, your fee structure, how you get paid, and how courts and referral partners perceive your professionalism. This module covers those decisions with the specificity that fiduciary practice demands. You won't find generic small business advice here. You'll work through the actual choices a fiduciary practitioner faces when building a practice: which entity structure protects you given the liability profile of fiduciary work, which practice model fits your situation and resources, how fiduciary compensation actually works across different roles, and what insurance and bonding coverage you need before accepting your first appointment. By the end of this module, you'll have evaluated your practice model, defined your practice focus, assessed your compliance requirements, and begun building the operational plan that Modules 2 through 7 will develop further.
WHAT YOU'LL LEARN
- How to evaluate and select a practice model based on your resources, risk tolerance, and professional goals. - Why entity structure is a liability decision, not just a tax decision, and how the wrong choice creates risk that's expensive to correct later. - The five common fiduciary compensation models, including which roles typically use each and what the revenue implications are for your first-year planning. - How to define your scope of services with the precision that prevents role confusion, liability exposure, and disputes with clients and referral partners. - What professional liability insurance covers (and doesn't cover), how court-required bonds work, and why these are prerequisites, not optional add-ons. - How to use a structured framework to evaluate your strengths, assess market demand, and define a practice focus that positions you for sustainable referrals.
THIS MODULE IS FOR YOU IF:
You're preparing to launch a fiduciary practice and need to make foundational decisions about structure, services, and compliance before you begin. You've been operating informally and want to formalize your practice with the right entity, insurance, and operational infrastructure. You're evaluating whether solo practice, agency-based practice, or a hybrid model is the right fit for your situation. You want to define a practice focus that aligns your strengths with market demand rather than trying to be everything to everyone.
PREREQUISITES
The Fiduciary Method™ Introduction (free course). This brief introduction establishes the five-pillar framework and the Integrated Practice Cycle that Module 1 builds on.
WHERE THIS MODULE FITS
Module 1 is the starting point of the Fiduciary Practice™ curriculum. It establishes the structural decisions that every subsequent module builds on. Module 2 (Legal and Operational Foundations) picks up where this module ends, moving from practice structure into the legal frameworks, authority verification, and financial separation systems that govern fiduciary operations. The full curriculum: Module 1: Business Formation and Practice Models Module 2: Legal and Operational Foundations Module 3: Systems and Market Development Module 4: Client Onboarding and Service Excellence Module 5: Ethics and Decision-Making in Practice Module 6: Technology, Tools, and Systems for Practice Module 7: Financial and Operational Planning for Launch Save with the Curriculum Bundle: all seven modules for $999 (a savings of $254 vs. purchasing individually).
$179.00
ABOUT THE FIDUCIARY INSTITUTE
The Fiduciary Practice™ curriculum and Fiduciary Toolkit were created and reviewed by active fiduciary practitioners to address the gap between entering the profession and having the structured systems to practice competently and sustainably. All programs are aligned with national fiduciary standards and designed for fiduciaries across all roles nationwide.