What Does It Mean That Mezzi Is a Fiduciary?

Last updated: August 20, 2026

Overview

Mezzi is an SEC-registered investment adviser, which means it is held to a fiduciary standard: it is legally obligated to put your interests ahead of its own. In practice, that shows up in how Mezzi is paid — a flat membership subscription, with no percentage of your assets, no commissions, and no payment for steering you toward particular funds or institutions.

📌 What You Need to Know

What the fiduciary standard actually requires

A fiduciary duty is a legal obligation, not a marketing promise. For a registered investment adviser it has two parts:

  • A duty of care — advice has to be based on a reasonable understanding of your objectives, and it has to be in your best interest, not merely "suitable."

  • A duty of loyalty — the adviser must not put its own interests ahead of yours, and must disclose conflicts of interest rather than quietly work around them.

That's a higher bar than the one that applies to a broker selling you a product. It's also the reason Mezzi's advice will sometimes tell you to do nothing, or to hold a fund it has no relationship with.

How Mezzi is paid

Mezzi charges a flat membership fee — Core, Plus or White Glove, billed monthly or annually — and there is a free tier that costs nothing. That's the whole revenue model.

Specifically, Mezzi does not:

  • Charge a percentage of assets under management (no AUM fee). Whether you have $50,000 or $5 million connected, the membership price is the same.

  • Earn commissions, trailing fees, or revenue sharing from funds, brokerages, or custodians.

  • Sell your data to advertisers or data brokers.

This matters more than it sounds. An adviser paid on assets has a structural reason to discourage you from paying off a mortgage or making a large gift; an adviser paid on commission has a reason to prefer one fund over an equivalent cheaper one. A flat subscription removes both incentives.

What being a fiduciary does not mean

  • It doesn't mean Mezzi manages your money. Mezzi is read-only. It can't trade, transfer funds, or hold assets — see What Mezzi Does — and What It Doesn't.

  • It doesn't mean registration is an endorsement. Mezzi's own disclosure says it plainly: "Mezzi is an SEC-registered investment adviser; registration does not imply a certain level of skill or training."

  • It doesn't make every screen personalized advice. Much of what Mezzi shows is informational — allocation, exposure, performance, fees. Mezzi's disclosures note that information provided is for informational purposes and does not by itself constitute investment advice, and that features described may not be suitable for every investor.

  • It doesn't replace your tax or legal professional. Mezzi gives tax-savings advice, but nothing in the product is legal advice or tax preparation, and past performance never guarantees future results.

Advice is only as good as what Mezzi can see

A fiduciary duty applies to the information the adviser has. If an account, a liability, or an outside holding isn't in Mezzi, its analysis can't account for it. If an institution can't be connected, add the account manually so the picture is complete.

Important Notes

Mezzi's advice quality also depends on third-party data providers, which don't always deliver timely or complete information from your institutions. When something looks off, it's usually a data or sync issue rather than a change at your brokerage — start with Account Showing Stale or Incorrect Data.

🗨 Still Need Help?

For questions about Mezzi's registration, disclosures, or how membership is billed, email help@mezzi.com or text or call (415) 763-6997.

Common Questions

  • Is Mezzi a registered investment adviser? Yes. Mezzi is registered with the SEC as an investment adviser. Registration does not imply a certain level of skill or training.

  • Does Mezzi charge a percentage of my portfolio? No. There is no AUM fee. Mezzi charges a flat membership price that doesn't change with the size of your accounts, and the free tier costs nothing.

  • Does Mezzi get paid by the funds or brokerages it recommends? No. Mezzi earns no commissions, revenue sharing, or referral payments from funds or institutions, and it doesn't sell your data.

  • Is Mezzi's advice legal or tax advice? No. Mezzi provides investment-related guidance and tax-savings advice on your own holdings. It does not provide legal advice or prepare tax returns, and it isn't a substitute for your attorney or CPA.