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Selecting A TAMP Is A Fiduciary Decision

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Originally published on Financial Advisor by Scott MacKillop

The term TAMP is an acronym for “turnkey asset management provider.” TAMPs provide outsourced portfolio management services for financial advisors and their clients.

When selecting a TAMP for a client, an advisor should structure their due diligence process to focus on client benefits. As a starting point that means a review of the TAMP’s people, process, performance, pricing and portfolios (or products). These are the so-called “5 Ps” that should be the focus of any asset manager due diligence process.

Read the full article on Financial Advisor.

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