Results for "Fiduciary Corner"

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Marketing yourself as a fiduciary

April 3, 2011

The fiduciary standard is all about serving the best interests of investors. Even so, it can also serve the interests of investment advisers by being a part of an effective marketing strategy. There are three compelling reasons why advisers...

Not delivering on your promises is costly

March 6, 2011

“Well done is better than well said,” was Benjamin Franklin's wisdom on accountability. It is a message that fiduciaries should take to heart. Saying one thing and doing another, or failing to deliver on an advertised service, can be a source...

Where does advisory industry go from here?

February 6, 2011

Without the unequivocal support of all the members of the Securities and Exchange Commission, just how much can we learn about the future direction of the regulation of investment advice from the two SEC studies that were released last month?...

Review the process, not just performance

January 9, 2011

At this time of year, investment stewards — retirement plan sponsors, and managers and trustees of charitable organization investment committees — are receiving 2010 year-end investment performance reports and poring over them to prepare...

An adjustment is coming for reps

December 5, 2010

For some time now, there has been a net outflow of advisers from broker-dealers to investment advisory firms. For most of these individuals, the change involves a voluntary transition from a rules-based fair-dealing standard to a principles-based...

Rule change takes aim at 'schlocky advice'

November 7, 2010

Last month, the Department of Labor proposed to expand the definition of the term “fiduciary” under the Employee Retirement Income Security Act of 1974. According to the DOL, the rule “would protect beneficiaries of pension plans and individual...

Dodd-Frank: What it means for sales of proprietary products

October 17, 2010

During the busy fall conference season for financial professionals, virtually every agenda includes coverage of issues associated with regulatory reform and the extension of the fiduciary standard to brokers and dealers who provide advice to...

'Buyer beware' is no basis for a fiduciary rule

September 12, 2010

What is the purpose of disclosing a conflict of interest? The answer depends on whether a financial adviser is a fiduciary. If you are a fiduciary, a disclosure of a conflict is a notification of an exception to the relationship governed by...

The role of a fiduciary is timeless

August 15, 2010

As required by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, the Securities and Exchange Commission has begun a six-month study of the regulation of brokers under the fair-dealing standard and advisers under the fiduciary...

For fiduciary backers, fight not over

July 11, 2010

An important milestone has been reached on the path to the professionalization of financial advice with the inclusion of language in the financial-reform bill which would authorize the SEC to issue rules to extend the fiduciary standard to broker-dealers...

In volatile times, it pays to revisit the IPS

June 6, 2010

With financial markets careening up and down amid new financial, en-vironmental and geopolitical crises, investors are justifiably nervous about whether seemingly desperate times call for desperate measures. Financial stewards, as well as the...

Goldman proves need for higher standards

May 9, 2010

While getting pilloried in hearings before the Senate Permanent Subcommittee on Investigations, representatives from The Goldman Sachs Group Inc. characterized their firm as a market maker, denied that they had fiduciary status, and displayed...

Level fees are right way to avoid conflicts

April 11, 2010

The investment advice regulation for 401(k) plans recently released by the Labor Department offers more than proposed guidelines for making advice available to retirement plan participants: It provides clear evidence of why the growing regulatory...

'I pledge to be your fiduciary'

March 14, 2010

In a speech at the 2010 Investment Adviser Compliance Forum, Elisse Walter, a member of the Securities and Exchange Commission, expressed strong support for the extension of the fiduciary standard for financial professionals, calling it “critical...

Prudence involves more than conduct

February 14, 2010

“Prudence” seems like an old-fashioned word with a stodgy connotation, but for fiduciaries, it is a timeless concept with significant implications. Too often, investment advisers view prudence simply as an obligation to be competent and...

Let's say goodbye to 12(b)-1 fees

January 17, 2010

If ever there were a time to kill 12(b)-1 fees, that time is now. The imminent extension via regulatory reform of the fiduciary standard to brokers who provide advice presents a fitting time to get rid of fees that create conflicts of interest,...

The four stages of an annual review

December 6, 2009

As the year draws to a close, fiduciaries should be turning their attention to one of their most important responsibilities: the annual portfolio review. This is a prime event conducted in the process of fulfilling the continuing fiduciary duty...

Time to focus on target date fund reform

November 8, 2009

Rather than focusing on past deficiencies in target date funds, the Senate Special Committee on Aging's recent hearing on the funds focused on how they can be turned around quickly. However, the hearings should serve as notice to all fiduciaries...

Group aims to influence reform

October 11, 2009

The Committee for the Fiduciary Standard is an organization that every investor and financial professional should know about. It was founded about three months ago by a small group of volunteers who saw an opportunity to build public awareness...

B-D reps will reap benefits of reform

September 13, 2009

In the lexicon of regulatory reform, “harmonization” is a key word. Securities and Exchange Commission Chairman Mary Schapiro introduced the term in testimony and materials presented to the Senate Committee on Banking, Housing and Urban...

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