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Sara Grillo Challenges the Industry to be Transparent

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Article originally appeared on SaraGrillo.com

As the move to transparency in financial planning takes hold, regulations are changing in Colorado and other states. Here’s the triumph of virtue that financial planning transparency will (FINALLY) bring to planners across the country and the benefits to clients that come along with it. Get ready for an exciting show, folks, whoo hoooo!!!!!!

We welcome Dwight Dettloff, CPA, CFP, and Knut Rostad to today’s discussion.

Let’s get into it, folks! We’ll cover:

  • What does it mean for financial planning to be transparent?
  • What are the changes in Colorado investment advisor regulations regarding financial planning?
  • What is happening in other states regarding reform of financial planning regulation, and why we expect these changes to become more widespread.
  • What should financial advisors do?

Visit SaraGrillo.com for the full article and podcast

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