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The Institute for the Fiduciary Standard

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You are here: Home / Archives for Research / White Papers

White Papers

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 The Institute 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.

Study Offers New Insights and Guidance for Reg BI

By The Institute on November 9, 2018

Darren M. Fogarty

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’ Steps Toward Fiduciary Are Significant; Are They Enough and Will They Stay Intact?

By Darren Fogarty on June 12, 2018

Darren M. Fogarty

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.

Why Avoiding Conflicts of Interest Matters

By Knut Rostad on July 7, 2017

Knut A. Rostad

Advisor DNA found in the Advisers Act of 1940 and championed for generations is objective advice. Yet, some reject this bedrock principle.

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Institute & Industry Leaders

 

Chris Cannon, board member of the Institute's Real Fiduciary™ Practices and CFA Society Orlando, interviews Boston University Professor of Law Emerita, Tamar Frankel.

Frankel explains what led her to spend her career focusing on fiduciary law, what it means to be a fiduciary, and what conflicts of interest exist within the advisory space. She then offers her thoughts on what regulators should do to help eliminate these conflicts.

Carolyn McClanahan

 

"With the advent of 401(k)s and the decimation of pension plans to ensure financial security in old age, a fiduciary standard is more important than ever. The public needs to be confidant that advisors helping them plan for their retirement years always and only act in their best interest as a fiduciary. I'm happy to endorse organizations such as the Institute for the Fiduciary Standard that promote protections for those who need to secure their financial future."

- Carolyn McClanahan, Founder of Life Planning Partners

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