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Viewing posts in the Fiduciary Basics category.
Posted by Bennett Aikin on January 15, 2015 in Fiduciary BasicsFiduciary duty is determined by facts and circumstances and it is not uncommon for fiduciaries to be unaware of their status. One of the first issues that will arise in breach of fiduciary duty litigation is determination of whether the defendent, in fact, owed a fiduciary duty. For the protection of the fiduciaries and investors alike, it is better to address this issue up front, by properly identifying the fiduciaries, documenting their status and role in the investment policy statement, and requiring the fiduciaries to acknowledge their status in writing. Not only will this help prevent misunderstandings, it ensures every...
As outflows continue to soar, how can investors, stewards, and advisors decide what to do with Pimco funds in their portfolios? What lessons can Pimco teach us about the qualitative side of due diligence?
Posted by Duane Thompson on April 24, 2013 in Fiduciary BasicsMy son turns 18 in August. At that point he plans to sign an engagement letter with an independent financial planning firm in Texas, and with a personal advisor he’s never met, or at least doesn’t remember meeting as a child. My daughter, 21, graduates from college in another month, and is also a fiduciary client, at least in a limited engagement. Both inherited a very modest amount of shares in a family-owned business that was sold last November. Big changes, as they say, are ‘a-coming. The financial planner in question is mine...