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Viewing posts in the Fiduciary Basics category.


When does a client become a client?

Posted by Norman M. Boone, CFP® on May 14, 2015 in Fiduciary Basics Putting Process into Practice

Congratulations.  You have a new client.  Or, at least that new prospect has agreed to become a client. But when do they actually cross that threshold that makes them a “formal” client that anyone looking from the outside would agree that they are now your client? In my firm, Mosaic Financial Partners, four things need to happen before we consider someone an investment client of our firm, all of which happen roughly concurrently: They sign our Letter of Engagement (our contract).  This sets out all of the legal aspects of our new relationship, including our...

When does a client become a client?

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Expanding the IPS to the rest of your financial and personal life

Posted by Norman M. Boone, MBA, CFP® on April 06, 2015 in Fiduciary Basics Putting Process into Practice

For most of us, life happens in one of two ways: A) it happens to us; we don’t control it and often times the life experiences we have are largely accidental results of where we are, who we are with, and events around us.  B) Life happens as we intend; we are purposeful about the things we want in our lives and we do what we can to influence life’s events, so that what we wanted ends up happening. My wife and I travel frequently.  It’s one of the shared joys in...

Expanding the IPS to the rest of your financial and personal life

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Identifying the fiduciaries

Posted by Bennett Aikin on January 15, 2015 in Fiduciary Basics

Fiduciary 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...

Identifying the fiduciaries

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A fiduciary approach to fund due diligence and what to do with Pimco funds

Posted by Bennett Aikin on December 10, 2014 in Fiduciary Basics In the News

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?

A fiduciary approach to fund due diligence and what to do with Pimco funds

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On Transitioning My Children into Young Fiduciary Clients

Posted by Duane Thompson on April 24, 2013 in Fiduciary Basics

My 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...

On Transitioning My Children into Young Fiduciary Clients

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