Professor Tamar Frankel, Chairwoman of the Institute’s Board of Advisors, personally delivered the Institute’s remarks to Secretary Galvin at the open hearing.
By Tracey Longo
Giving investors fees and expenses in a standardized form is critical to their ability to protect themselves and comparison shop advisors, the Institute for the Fiduciary Standard told Massachusetts regulators yesterday.
“With the information required by Massachusetts clients can engage in intelligent conversations with an investment professional and can better comprehend a firm’s value proposition and they can become better educated consumers,” Institute President Knut Rostad said in a separate comment letter. “This type of disclosure has long been a norm for other leading professionals and retail businesses, yet it remains elusive to many financial representatives.”