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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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Legislation and Rulemaking

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

By Knut Rostad 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.

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

By Knut Rostad 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

Comment Letter to SEC on Adviser and Broker Dealer Standards of Conduct

By Knut Rostad on January 26, 2018

Adviser and Broker Dealer Standard of Conduct: For generations, the Advisers Act of 1940 has served well as a “contract” between advisers and their clients. The Commission’s rulemaking here effectively puts this “contract” under review and renewal.

Memo on the Proposed Code of Ethics and Standards of Conduct to CFP Board

By Knut Rostad on September 21, 2017

CFP Board Logo

In a memo to CFP Board from the Institute, we comment on its new standards. The proposed standards move financial planners towards professionalism on a number of fronts. Two stand out. One, in a sharp departure from the current standards, all CFPs who render financial advice are held to fiduciary conduct. Two, in the proposed standards conflicts begin to be addressed.

John Taft of SIFMA Explains Conduct Standards

By Knut Rostad on September 8, 2014

Candid conversation with John Taft of SIFMA on conduct standards.

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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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