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.
By Arthur Laby — Investment managers owe fiduciary duties to clients, including the duty of loyalty and the duty of care. A persistent question, with no clear answer, is what precisely is required by the duties of loyalty and care. In this paper, I argue that much of investment management regulation is a response by regulators to the uncertainty inherent in the fiduciary obligation.
Institute for the Fiduciary Standard/WealthManagement.com September 2015 DOL Conflict of Interest Survey
By Jeffrey W. McClure, CFP® — An excellent paper on the origins, meaning and importance of professions, and the status of financial planning as a profession.
By By Robert H. Sitkoff — “Whether a financial advisor is an “investment advisor” or a “broker” (or neither) under the federal securities laws, an advisor may be an agent under the common law of agency.”
By Arthur B. Laby — Because investors reasonably expect that brokers will, in fact, operate in a fiduciary capacity, the SEC should impose a fiduciary duty on brokers that give investment advice.