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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

Testimony of Tamar Frankel Before the N.J. Bureau of Securities

By The Institute on November 19, 2018

Tamar Frankel

Testimony of Tamar Frankel, LL.M. S.J.D. Professor of Law EmeritaBoston University School of LawBefore the N.J. Bureau of Securities Re: Fiduciary Duty/Pre-Proposal on November 19, 2018

Testimony of Knut A. Rostad before the New Jersey Bureau of Securities

By Knut Rostad on November 19, 2018

Knut A. Rostad

“Proposal Reg BI fails to explain best interest; however, it explains why conflicts can be beneficial” – Knut A. Rostad

Study Offers New Insights and Guidance for Reg BI

By Knut Rostad on November 9, 2018

by Knut A. Rostad and Darren M. Fogarty — New insights into retail investor, financial reps misunderstandings of brokers and advisers.

SEC Investor Roundtables Reveal Investors Often Do Not Understand Form CRS

By Darren Fogarty on September 17, 2018

Jay Clayton

The SEC’s own Investor Roundtables clearly demonstrate that not even well-educated professionals can understand Form CRS.

Financial Firms’ Step Toward Fiduciary; Are These Steps Enough and Will They Stay Intact?

By Darren Fogarty on June 12, 2018

In 2016 and 2017, the Consumer Federation of America reported in three separate comment letters that 34 financial firms changed their products and/or product offerings to comply with the DOL Fiduciary Rule. They did so against a backdrop of industry criticism that the Rule would be harmful not only to their own business models, but to their customers and clients as well. Some of the very same firms heftily contributed to that backdrop. However, in announcing their new products and offerings, many of these same firms reversed their position on the impact on investors. Now, they believe such changes are overdue, prudent, and beneficial to customers. Why the switch? And will such product improvements survive the recent vacatur of the DOL Rule? Time will tell.

How Mere Presence and Mandatory Waiting Periods Affect Consumer Decisions with Disclosures

By Darren Fogarty on April 5, 2018

Book-case

By Darren M. Fogarty — The mere presence of an observer, while an individual is reading a disclosure, can impede their ability to make informed decisions, while mandatory waiting periods have a positive effect on consumers’ ability to make informed decisions.

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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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