By Knut A. Rostad In honor of Fiduciary September, the Institute for the Fiduciary Standard has published a white paper that discusses the Six Core Fiduciary Duties identified by the Institute as embodying the major elements of fiduciary responsibility under the Advisers Act of 1940. The Six Core Fiduciary Duties reflect principles that have served society for […]
Knut's Views
The Public Deserves A Safe Harbor From Conflicted Advice
By Dan Moisand In a recent piece, Jason Zweig quotes the former Republican U.S. Senator from New Hampshire who also serves as the chief executive of the Securities Industry and Financial Markets Association, Wall Street’s main trade group, Judd Greg. It was regarding a possible Department of Labor rule applying a fiduciary standard to IRAs. […]
In a Watershed Year for Fiduciary Standard, Reviewing the Arguments
Welcome to Fiduciary September. The Institute for the Fiduciary Standard annually celebrates Fiduciary September to highlight the indispensable role fiduciary principles serve in preserving trust and confidence in our capital markets, and we believe 2013 may be a watershed year. The very meaning of ‘investment advice’ for retail investors may be fundamentally altered under intense […]
America Can’t Afford Wall Street’s Terrible Investment Advice
To date, the fiduciary debate media coverage has been largely limited to industry outlets, selected personal finance writers and occasional pieces in The New York Times and Wall Street Journal. Much of this reporting has been very good. Yet, the debate has generally not been covered by broader consumer media as a general interest story. […]
Will a New DOL Fiduciary Rule be “Destructive?”
By Knut Rostad Saturday’s column by Jason Zweig may be the official start of the battle in Washington between the Department of Labor (DOL) and the brokerage industry regarding an anticipated DOL rule to modernize ERISA to, as Zweig points out, ensure brokers act “solely for the benefit of their clients when advising on individual […]
The SEC Has Lost Sight of Its Purpose
By Dan Moisand To understand the fundamental problem with the regulations surrounding personal financial advice, you need to look no further than this single sentence from the Securities Exchange Commission’s March 1 request for information on the obligations of broker dealers and investment advisers. “Assume that the uniform fiduciary standard of conduct would be designed […]
