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The Institute for the Fiduciary Standard

A resource site for investors, brokers, academics and the media.


Building a fiduciary culture of honesty, integrity, and expertise.

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Research

Debate Counter Point: “Testimonials and Endorsements Won’t Help Investors”

By The Institute on February 27, 2020

Karen Barr and Knut Rostad take opposite sides of the timely debate on advisor advertisements with testimonials and endorsements.

Regulatory Action: Letter to SEC Opposing Lifting Current Ban on Testimonials and Endorsements

By The Institute on February 10, 2020

Photo by AgnosticPreachersKid, distributed under CC BY-SA 3.0

There may be parts of the SEC’s 1961 advertising rule that deserve updating. The ban on testimonials and endorsements is not one of them.

Time for Advisers to Speak to Us in Plain English, writes WSJ’s Jason Zweig

By The Institute on October 18, 2019

adviser investor complicated

The SEC is making financial information simpler. But it’s not yet simple enough.

Institute commends Massachusetts disclosure on fees and services as “Straight Talk”

By The Institute on May 2, 2019

Massachusetts State House, Boston |Source=Photo taken by Daderot

The proposed Massachusetts Adviser Straight Talk Disclosure is a simple, direct and commonsense approach to informing adviser clients of key information. It can increase investor comprehension of fees and services.

The EU leapfrogs the US on investor protection

By Knut Rostad on April 22, 2019

By Knut A. Rostad and Darren M. Fogarty
MiFID II’s standard raises the transparency bar well above the U.S. SEC’s proposed Regulation BI and Form CRS.

Conventional Wisdom Says a Major Problem is “Investor Confusion” About Brokers and Advisers; Is This the Whole Story?

By Knut Rostad on January 15, 2019

Photo by Joseph Gruenthal on Unsplash

By Knut A. Rostad and Darren M. Fogarty — Investors misunderstand how brokers and advisers differ because the information they get from the industry is unclear or misleading.

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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

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