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‘Streetfighting saint’ Bob Veres takes 2024 Tamar Frankel prize for decades of unstinting, sometimes ‘scathing’ commentary and a ‘secret sauce’ to ferret out facts

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Article Originally Published: RIABiz

Bob Veres is the recipient of the 2024 Frankel Fiduciary Prize, despite a history of prickliness, peccadilloes, and ‘not always being right’ – and that’s just from the people who wholeheartedly agree he deserves the award.

The Institute for the Fiduciary Standard, on behalf of the Frankel Fiduciary Prize Selection Committee, awarded the honor to the Tryon, N.C., publisher and editor of Inside Information, a blog about all things related to financial services.

“Bob Veres has the heart of a saint and the soul of a street fighter,” says Luke Dean, financial planning program director and associate professor at the Woodbury School of Business at Utah Valley University.

Colleagues agree that Veres has fought longer and harder for unconflicted advice and the ideal of putting customer interest first with little of the ivory-tower remove of people who inhabit the movement.

“Nobody has championed fiduciary advisors longer and more strongly than Bob has,” says Joel Bruckenstein, producer of the T3 industry event in an email.

“He has never been shy about voicing his opinions, even when they are unpopular,” he adds. 

“When he is critical of a position or organization, his reasoning is always based on fact and his extensive knowledge of the industry. He’s not always right, but history shows that he usually is.

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