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How Long Should An IPS Be?

Posted by Norman M Boone, MBA, CFP® on February 24, 2015 in Fiduciary Excellence

There is no one right way to write an IPS.  There is no prescribed set of topics that need to be included.  The length of an IPS can be whatever is right for the advisor and the client. For that reason, the appropriate length of an IPS rests with what needs to be said and how detailed the discussion of the selected topics need to be. THE "FOR DUMMIES” version OR just the facts?   For example, if you want to include "Risk Tolerance" as a topic in your IPS, your entire discussion of that might just...

How Long Should An IPS Be?

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White House Stirs Up Fiduciary Debate

Posted by Bennett Aikin on February 23, 2015 in In the News Regulatory Update

The White House came out strong today in support of raising the standard of care for anyone providing advice on retirement accounts. Speaking at AARP, President Obama aimed his comments to investors, explaining how small differences in fees can have a big effect on account balances and making the case for a “best interests” standard for advisors. This came in coordination with the release of a report by the White House Council of Economic Advisers on the economic effects of conflicts of interests by advisors, as well as new PR efforts on the White House website. As we...

White House Stirs Up Fiduciary Debate

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Santomenno court case a window into debate over DOL fiduciary rulemaking

Posted by Duane Thompson on February 13, 2015 in In the News Regulatory Update

As the industry waits for the DOL to re-propose its fiduciary rule, a case at the appellate level last year provides an interesting preview of the upcoming debate. Last September, the U.S. Court of Appeals for the Third Circuit decided that a retirement plan provider was not a functional fiduciary by virtue of its role selecting and monitoring a “Big Menu” of funds for its clients to select from. This was not a surprising result, as it merely reinforced settled law from previous court decisions. What makes this case so interesting is how the plaintiffs, defendants, and...

Santomenno court case a window into debate over DOL fiduciary rulemaking

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Seven qualitative factors for evaluating investments

Posted by Mike Limbacher on February 11, 2015 in Fiduciary Excellence Putting Process into Practice

Due diligence is the heart and soul of investment selection. A good due diligence process objectively whittles down the universe of available funds to just those that meet your high standards for inclusion in an investment portfolio. Investment due diligence typically begins on the quantitative side by evaluating funds against set benchmarks and in relation to peers.  The fi360 Fiduciary Score®, for example, is calculated using nine quantitative factors that we consider to be the minimum due diligence criteria that you should use when evaluating an investment.  But in addition to quantitative analysis,...

Seven qualitative factors for evaluating investments

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How often should I update my client's IPS?

Posted by Norman Boone, MBA, CFP® on January 27, 2015 in

An investment policy statement (IPS) is a reflection of the initial and on-going agreements between the client (what I want and don’t want, who I am, how much risk I’m willing to take, what decisions I expect to be involved in, etc.) and the advisor (discretion or no, the intended allocation and how much it can be strayed from and the process for rebalancing, the general investment process to be followed, the kinds of investments/securities to be used, etc.).  It should outline each party’s responsibilities to each other and identify how and...

How often should I update my client's IPS?

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