The Institute for the Fiduciary Standard

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Professor Emerita, Tamar Frankel, Urges SEC Chairman Gensler: Make it clear RIAs can say ‘We are fiduciaries’ on CRS!

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Boston University Professor of Law Emerita, Tamar Frankel, who is often revered as “The Godmother of Fiduciary Law” by her peers and students, recently penned a letter to SEC Chairman Gary Gensler. In it, Frankel speaks directly and forthrightly. At one point she says, “The assumption that the fiduciary responsibilities are ‘confusing’ to RIAs is astounding . . . No practicing RIA could have started, let alone continued practicing, without a very clear understanding of [the Advisers Act of 1940] and its detailed interpretation.”

You may view a .PDF of the letter by navigating here or by downloading it 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