The Institute for the Fiduciary Standard
A resource site for investors, brokers, academics and the media.
By Knut Rostad on
Author: Lorna A. Schnase
An investment adviser’s fiduciary duty derives primarily from common law and federal statutory law. There are two basic duties, those of care and loyalty. Some authorities list additional duties such as a duty of obedience, a duty to act in good faith, and a duty of disclosure.
Allan Slider, founder of FeeOnlyNetwork.com and a good friend of the Institute is interviewed by Kevin Price, Host of the Price of Business Show.
Slider explains in this interview why only 2% of financial advisors—those that are “fee-only”—can offer unbiased financial advice, free from the conflicts of commission, and are held to the highest standard of fiduciary care.
"With the advent of 401(k)s and the decimation of pension plans to ensure financial security in old age, a fiduciary standard is more important than ever. The public needs to be confidant that advisors helping them plan for their retirement years always and only act in their best interest as a fiduciary. I'm happy to endorse organizations such as the Institute for the Fiduciary Standard that promote protections for those who need to secure their financial future."
- Carolyn McClanahan, Founder of Life Planning Partners