The Institute for the Fiduciary Standard

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Swipe left on the SEC’s investor-protection rule

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Originally published on The Hill by Kurt Schacht

It sure feels like we have been on a very bad online date. Everything looked good on the web, we had similar likes and dislikes, and we shared a passion for fixing conflicts and mis-selling that occurs regularly with financial service products. How do we love thee Regulation Best Interest (BI)? Let us count the ways.  

The big Securities and Exchange Commission (SEC) reveal this week, after months of courtship with investor protection enthusiasts was, as far as we can tell, a monumental bust.

Read the full article on The Hill

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