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Four Distinguished Law Professors Discuss 2020 Financial Advice Landscape

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Background — 2020 has ushered in possibly historic changes to the financial advice landscape. The Securities and Exchange Commission issued Regulation Best Interest along with other rules and interpretations.  The Dept. of Labor has proposed a new rule.  Private self-regulation has also changed with the CFP Board embracing new standards. These changes raise questions about the future of the Investment Advisers Act of 1940, the Employee Retirement Income Security Act, and previously accepted norms for fiduciary advice.  In this program, four leading law professors share their views on these developments and what they mean for financial advice in 2020.

What:              Panel discussion of ‘The Financial Advice Landscape in 2020’

When:             Thursday, September 10 from 3:00-4:00 PM ET

Where:            

Who:

  • Benjamin P. Edwards, (Moderator) Associate Professor of Law, University of Nevada, William S. Boyd School of Law, Las Vegas, Nevada
  • James D, Cox, Brainerd Currie Professor of Law, Duke Law School
  • Donald C. Langvort, Thomas Aquinas Reynolds Professor of Law, Georgetown Law School
  • Ann M. Lipton, Michael M. Fleishman Associate Professor in Business Law and Entrepreneurship, Tulane Law School

Download the full press release of the event.

Webinar Video

View the full panel discussion that took place over Zoom on September 10, 2020, below:

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