Posted by on June 17, 2013
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Fiduciary Links
>>>>With the deadline to the SEC’s request for information regarding the fiduciary standard quickly approaching and coinciding with a busy week for conferences and other events, the past week had a number of prominent advocates sharing their thoughts on the fiduciary standard and the outlook for regulatory reform.
In general, most shared similar themes of stressing the importance to investors of a true fiduciary standard, while expressing some concern that we’re headed for a watered down or rules-based approach that lowers the bar for RIA advisors. For today’s links post,...
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Posted by Duane Thompson on June 12, 2013
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Advocacy
In the News
Legal
>>>>The Securities and Exchange Commission is awaiting public comment on its March 1 request for data involving the costs and benefits of adopting a uniform fiduciary standard for brokers and advisors. Whether it eventually adopts a rule, after receiving clear authority from Congress three years ago to do so, remains open to question.
In the meantime, the Commission could utilize its longstanding amicus program to bring important issues involving brokers and advisers before the courts now, similar to the Department of Labor’s active amicus program. Unfortunately, the SEC has a poor...
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Posted by Kathy Stewart on June 10, 2013
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Fiduciary Links
>>>When it comes to setting long-term goals and developing and monitoring an appropriate strategy for attaining those goals, there’s no better time than the present to get started. At least, that’s the message to take from a recent survey from deVere Group that found the greatest financial regret of their clients with at least $1 million in investable assets is “not having put in place a regularly reviewed personal financial plan earlier in life.”
How to educate clients early that they too may end up with the same regret is a continual...
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Posted by Bennett Aikin on June 03, 2013
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Fiduciary Links
>>>On AdvisorOne last week, John Sullivan recapped a session from the FPA 2013 NorCal Conference, titled “Alternative Investing: Opportunities, Pitfalls, and an Assets Manager’s Approach." The session looked at how large endowments have found success in alternatives and the lessons advisors can take from them.
Of course, large endowments, such as Yale, enjoy significant advantages based on their size that most advisors simply can’t match. However, the story concludes with the fundamental considerations to alternatives investing that are universal, regardless of size or access:
As with any investment, alternatives must have a purpose...
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Posted by fi360 Team on May 28, 2013
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>>>>In his most recent Fiduciary Corner column, fi360 CEO Blaine Aikin addresses the call for greater “coordination” between the SEC and DOL as they each work on fiduciary rules. His conclusion is that the motivation is not to create a more efficient or effective regulatory scheme. Rather, it is part of a broader effort to avoid true fiduciary accountability for transactional brokers and agents who provide personalized advice, as well as for their employers. Just as “harmonization” has become a code word for dilution of the fiduciary standard for the provision of...
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