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Best Practices for Financial Advisors

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Best Practices for Financial Advisors
Media Briefing Tuesday April 19 at 1.30 PM ET

What: The Institute for the Fiduciary Standard will report on Best Practices for Financial Advisors developments and the Self Assessment for Advisors.

When: Tuesday, April 19 at 1:30 ET – 2:15 PM

Where: By conference call: 857-232-0159
Meeting ID: 626004

Who: Knut A. Rostad, President
Institute for the Fiduciary Standard

Bryan D Beatty
Egan, Berger & Weiner, LLC
Member, Best Practices Board

Michael Warszawski
Senior Managing Director at Manchester Capital Management
Moderator of the Chairman’s Council

William Prewitt
Charleston Financial Advisors
Member, Best Practices Board and NAPFA

Background: The DOL Conflict of Interest Rule puts fiduciary duties front and center at a key time. Retiring boomers and nagging investor distrust in finance highlight the dilemma and confusion of the diverse views of fiduciaries and the industry. For investors, though, the question is simpler: ‘What should I expect from a really good fiduciary advisor?’

The Institute along with NAPFA, a partner on the Best Practices initiative, released Best Practices for Financial Advisors in September 2015 to help address this question. and has initiated testing of a tool for advisors to assess their adherence to Best Practices. Chairman’s Council members, NAPFA and dual registrants provided important input. The Best Practices can be found here: https://thefiduciaryinstitute.org/ wpcontent/uploads/2015/02/BestPracticesFinal-copy.pdf.

More Information: Knut A. Rostad: knut@thefiduciaryinstitute.org, 301-509-6468
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Dan Moisand

 

Dan Moisand is a nationally recognized fiduciary fee-only financial planner, an Institute Real Fiduciary™ Advisor and Chair-elect of the CFP Board.

The Institute has enshrined the ‘Moisand Rule’ on fiduciary practices. It is basic and is more important today than ever: “You have to avoid conflicts. If I avoid a conflict, I don’t worry about it.”

Watch the video of Moisand speaking here.

Bob Veres

 

Bob Veres is a long term observer of financial planning. His Newsletter, “Inside information” Is a staple of leading planners. In the May edition he writes about fiduciary and the Institute.

"But a much bigger point is that the fiduciary standard—as Knut Rostad of the Institute for the Fiduciary Standard has pointed out—has been determined by the Supreme Court (1963 ruling) to be at the very heart of the Investment Advisers Act of 1940. It is the foundation of what it means to be an RIA registered with the SEC instead of a tipster or a tout."

- Bob Veres, Parting Thoughts ... The SEC's Own Compliance Culture