The Institute for the Fiduciary Standard

A resource site for investors, brokers, academics and the media.


Building a fiduciary culture of honesty, integrity, and expertise.

WealthManagement.com: Coronavirus Puts a Premium on Honest and Plain Talk from Advisors

By on

Advisors who communicate quickly, openly and honestly … will come out in a stronger position.

“Clients don’t hold you responsible for what you can’t control. They look to you for assurance that their financial plans ensure the greatest probability that their plans for life will be realized.

It’s not investment performance that matters … They will tolerate losses, but not losses that you can’t explain in ways they can understand. 

Advisors who communicate quickly, openly and honestly with their clients will not only survive the next year, but likely come out on the other side in a stronger position. Advisors who hide behind charts and market prognostications and asset manager jargon around the buy and sell orders they’ve made on the client’s behalf will have a harder time keeping those clients through the next recession.”

David Armstrong,  Editor-in-Chief
WealthManagement.com April 1, 2020

You can read the full article on WealthManagement.com.

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