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Updated September 28, 2026. Quick answer: Mostly yes, with one carve-out. Fragasso Financial Advisors is registered with the SEC only as an investment adviser, so on your advisory account it owes you a fiduciary duty under the Investment Advisers Act of 1940. Its own Form CRS states: “When we act as your investment adviser, we have to act in your best interest and not put our interest ahead of yours.” A limited number of Fragasso Financial Advisors’ financial professionals are separately licensed to sell brokerage products in a different capacity, where the weaker Regulation Best Interest standard, not a fiduciary duty, applies instead.
For a closer look at this firm: Fragasso Financial Advisors Review, Fragasso Financial Advisors Minimum Investment and How to Leave Fragasso Financial Advisors.
How it’s registered
From Form CRS, Customer Relationship Summary, Fragasso Financial Advisors (November 27, 2023): “FFA (referred to as “we” or “us”) is registered with the Securities and Exchange Commission (“SEC”) as an investment adviser.”
The standard of conduct, in its own words
“When we act as your investment adviser, we have to act in your best interest and not put our interest ahead of yours.”
On commissions: “Certain of our financial professionals are registered representatives of a broker-dealer. These financial professionals may offer securities and receive compensation such as commissions, 12b-1 fees, or trails, when doing securities transactions separate from offering investment advice through us.”
Fiduciary status by capacity
| Capacity | Registration | Standard you’re owed | Can earn commissions | Source |
|---|---|---|---|---|
| As your investment adviser (most clients) | SEC-registered investment adviser | Fiduciary duty (Investment Advisers Act of 1940) | No (asset-based advisory fee: $6,250 a year, 1.25% on a $500,000 account) | Form CRS, Customer Relationship Summary, Fragasso Financial Advisors, November 27, 2023 |
| As a dually licensed representative (limited) | Also FINRA-registered broker-dealer representative, separate capacity | Regulation Best Interest (not a fiduciary duty) | Yes | Form CRS, Customer Relationship Summary, Fragasso Financial Advisors, November 27, 2023 |
What this means for what you pay
Fiduciary status is one input, not the whole picture. Fragasso Financial Advisors discloses a published fee that runs $6,250 a year on a $500,000 account; see the full dollar breakdown from Fragasso Financial Advisors’ own fee disclosure before deciding whether the standard of conduct here changes your answer.
If the answer above changes your mind about staying, read the general mechanics of switching financial advisors, or use a dated termination letter once you decide.
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Source: WiserAdvisor’s service descriptionSources
- Form CRS, Customer Relationship Summary, Fragasso Financial Advisors (November 27, 2023): https://reports.adviserinfo.sec.gov/crs/crs_123255.pdf
- SEC Investment Adviser Public Disclosure, Fragasso Financial Advisors (CRD #123255): https://adviserinfo.sec.gov/firm/summary/123255
- Fragasso Financial Advisors, SEC Form ADV filing: https://reports.adviserinfo.sec.gov/reports/ADV/123255/PDF/123255.pdf
Methodology. This page was built September 28, 2026, quoting directly from Fragasso Financial Advisors’ own current Form CRS, with the source linked above; any distinction we could not independently confirm this session is named as an honest gap rather than presented as verified. Nothing here is personalized financial, tax, legal, or investment advice, and it is not a substitute for reading the firm’s own Form CRS. See our Editorial Policy, Corrections, Affiliate Disclosure, and Disclaimer.