The Institute for the Fiduciary Standard

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Go back to the drawing Board on conduct standard proposals.

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Massachusetts Secretary of the Commonwealth William Galvin to SEC: Go back to the drawing Board on conduct standard proposals.

The Commission has shaped its “best interest” regulation to preserve the traditional broker-dealer advice model, with investor protection taking a back seat. The Proposals present the veneer of a fiduciary standard without providing the substance needed to protect retail investors.

In a comment letter to the SEC, The Secretary writes,  “It is evident that the Commission has abandoned a Fiduciary standard in the name of ‘choice.'”

http://www.sec.state.ma.us/sct/sctpdf/SECCommissioners.pdf

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