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Financial Planners as Fiduciaries

Posted by Kathy Stewart on May 08, 2013 in Fiduciary Excellence Putting Process into Practice

>>>>We know that investors often assume that their financial advisor is a fiduciary.  That might be accurate or not depending on the circumstances.  Trying to simplify the explanations is perhaps a bit cumbersome.  Those who offer financial planning services, in situations unrelated to ERISA’s realm, like other financial advisors, may or may not have a fiduciary duty to their clients depending on the specifics of the engagement.  Financial planners, much like other functional fiduciaries, are deemed to have fiduciary responsibility when their activities fall under the definitions found in applicable...

Financial Planners as Fiduciaries

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Fiduciary Links: FINRA Provides Notice to Stop Misleading Investors on REITs

Posted by fi360 Team on May 06, 2013 in Fiduciary Links

>>>>FINRA has released guidance to member firms regarding how they should be communicating to investors regarding REITs and real estate direct participation programs. The memo addresses eight areas in which firms have shown deficiencies when communicating about the products: dislcosures, distribution rates, stability/volatility claims, redemption features and liquidity events, performance of prior related real estate programs, use of indices and comparisons, pictures of specific properties, and capitalization rates. In each section, the notice provides guidance for how these aspects should be communicated in a way that does not mislead investors. In addition to the specific...

Fiduciary Links: FINRA Provides Notice to Stop Misleading Investors on REITs

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Fiduciary Links: What can we read into the SEC's assumptions regarding fiduciary rule making?

Posted by fi360 Team on April 29, 2013 in Fiduciary Links In the News

>>>>The Institute for the Fiduciary Standard, an advocacy group that promotes the fiduciary standard, issued a paper that takes issue with a number of the assumptions made in the SEC’s request for data to inform potential fiduciary rulemaking.  The paper notes that the assumptions suggested in the request would indicate a severe change in how the fiduciary standard is understood. This would include increased reliance on disclosures as a means of managing conflicts of interest while also weakening the forms and methods of disclosure, allowing fiduciary duty to be waived, redefines the duty...

Fiduciary Links: What can we read into the SEC's assumptions regarding fiduciary rule making?

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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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Fiduciary Links: Fiduciary of the Year and Article Competition Winners Announced

Posted by fi360 Team on April 22, 2013 in fi360 Conference Fiduciary Excellence Fiduciary Links What's new at fi360?

>>>>Last week's fi360 Conference was the occasion for the announcement of two awards of distinction for investment management fiduciaries: The Committee for the Fiduciary Standard's Fiduciary of the Year and the winner of the fi360-AdvisorOne Article Competition.     Eugene F. Maloney, Executive Vice President and Corporate Counsel of Federated Investors, Inc., was named Fiduciary of the Year by the Committee for the Fiduciary Standard.  Mr. Maloney is widely known in the financial services industry as an advocate for fiduciary responsibility and as a resource for fiduciaries and investment advisors nationally.  ...

Fiduciary Links: Fiduciary of the Year and Article Competition Winners Announced

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