EP: 033 The Truth About Fiduciary Advice w/ Michael Scarpati
On a recent episode of Modern Financial Wellness, I was thrilled to have a very special guest—Michael Scarpati, the CEO of Retire Us. Retire Us is a game-changing financial advice platform that blends human relationships and technology to help individuals achieve financial freedom with less friction and more clarity.
We examined the major barriers people face when looking for financial advice, from the lack of access to affordable fiduciary guidance to the confusion caused by an industry built on investment-first relationships. We discussed the different types of advisors—benefits-based, product-based, and the elusive systems-based advisor—and explained why most people never get to work with an independent fiduciary unless they already have significant investable assets.
Financial planning doesn’t have to be intimidating or inaccessible, and you deserve advice that is truly in your best interest—without asset minimums or high barriers to entry. Whether you’re just getting started or want to level up your systems, there are more options than ever for high-quality, human financial guidance.
5 Key Takeaways:
- Know What a Fiduciary Is—and Why It Matters:
Only 10–15% of financial professionals are legally held to act in your best interest. The rest may not have to—meaning it’s crucial to ask anyone you work with whether they’re a true fiduciary, and more importantly, if they’re independent fiduciaries with access to the whole marketplace.
- Not All Financial Advisors—or Advice—Are Created Equal:
There are three primary types of advisors: benefits-based (usually tied to your employer), product-based (selling investments or insurance), and systems-based (true planners building holistic frameworks for your money). Most people never move beyond the first two, missing out on the systems-based approach that drives real financial progress.
- Financial Planning Should Start with Goals and Systems, NOT Just Products:
Most Americans piece together products and workplace benefits without a system to hold it all accountable. Michael likens this to baking a cake without a recipe—possible, but messy and inconsistent. True success comes from building intentional systems first, then filling them with the right tools and products.
- Accessibility Is Changing, But You Need to Know Where to Look:
Traditionally, high-quality, independent financial planning was reserved for those with $250,000 (or potentially much more) in investable assets. Platforms like Retire Us are changing that—with subscription models as low as $60/month, allowing regular people to get personalized, fiduciary advice and ongoing support from professionals who act in their best interest.
- Peace of Mind—and Real Progress—Comes from Financial Awareness:
According to Michael, financial well-being is ultimately about peace. If something feels “off” with your money, it probably is. Start by getting clear on your real goals and what’s causing your stress or anxiety. Use tools (like Retire Us’s free financial assessment) and work with advisors who will help you identify and fix those blind spots, creating a holistic sense of control and confidence.
You can watch the full video of our conversation on YouTube here:
You can also find the audio versions on places like Spotify, Apple Podcasts and wherever else you listen to your favorite podcasts.
Make sure to check out some of the great recommendations that Michael provided and follow her content below:
READ + LISTEN + LEARN:
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