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.

Op-Ed Commentary

Daylian Cain NYU Presentation

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Yale business professor, Daylian Cain, is a prolific researcher on conflicts of interest. His notoriety in investment advice policy circles was further enhanced when the Obama administration cited his work in 2015, as it argued for the DOL Conflicts of Interest Rule.

In June 2016, Cain offered a quick (seven minute video) synopsis of his thinking. The video can be found here.

One key point in professor Cain’s synopsis highlighted in this one-page summary deserves special attention. It underscores why a policy of avoiding conflicts is far superior to a policy of accepting and disclosing conflicts. The point is the potential impact of conflicts on everyone. As Cain notes, “Yet, (its not just the bad apples)… normal people are also capable of really bad behavior.”

Why Capitalism Has an Image Problem

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Capitalism has played an important role in world history generally and in American history in particular. Nevertheless, today many Americans view capitalism with suspicion or even hostility. What’s needed is a remaking of the case for capitalism, which itself requires a restatement of capitalism’s old truths.

How to Choose a Financial Planner

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Knowing how your financial advisor makes money can help you, the consumer, make a well-informed decision. This article attempts to arm consumers with tools they can use to get the best money advice possible.

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