• Skip to primary navigation
  • Skip to main content

The Institute for the Fiduciary Standard

A resource site for investors, brokers, academics and the media.

  • LinkedIn
  • Twitter

Building a fiduciary culture of honesty, integrity, and expertise.

  • About
    • Fiduciary Law
    • Board of Directors
    • Board of Advisors*
    • Chairman’s Council
    • Real Fiduciary™ Practices
  • Real Fiduciary™ for Investors
    • Why You Need a Real Fiduciary™ Advisor
    • Real Fiduciary™ Advisor Registry
  • Real Fiduciary™ for Advisors
    • Real Fiduciary™ Affirmation Program
      • Real Fiduciary™ Background
  • Fiduciary September
    • 2020
    • 2019
    • 2018
    • 2017
    • 2016
    • 2015
    • 2014
    • 2013
    • 2012
  • Frankel Prize
    • 2020
    • 2019
    • 2018
    • 2017
    • 2016
    • 2015
    • 2014
    • 2013
  • Programs
    • Leadership Through Fiduciary Program
    • “Raise Your Voice” Campaign
    • SEC Conduct Standards Rulemaking
    • Institute Initiatives & News
    • Personal Financial Planning Program Webinars
    • Prior Programs
      • Advisor On My Side
      • No Incidental Investor Initiative
      • Bogle Legacy Forum
        • Bogle Forum
        • Bogle Book
      • August 11th 2015
  • Research
    • Academic Papers
    • Legislation and Rulemaking
    • White Papers
    • Op-Ed Commentary
  • Jack Bogle’s Legacy
You are here: Home / Fiduciary Law

Fiduciary Law

How Has it Evolved Over the Centuries?

Tamar Frankel
Professor of Law
Boston University School of Law

“Fiduciary Duty applies when one person has responsibility for the assets or property of another person. The fiduciary must act in the best interest of the person who has entrusted those assets”– the beneficiary according to fiduciary scholar and law professor Tamar Frankel. During the 2010 Fiduciary Forum in Washington, DC, Prof. Frankel discussed the importance of advice to individual and institutional investors, and why she believes that all who provide that advice should be held to the fiduciary standard. “There is a big difference between the suitability standard and the fiduciary standard. Unfortunately, studies show that investors typically do not make this distinction.”

 

The Origins of Fiduciary Duty and Some Key Differences Between Brokers’ and Fiduciaries’ Duties.

Arthur B. Laby, Professor of Law
Rutgers-Camden School of Law

Professor Laby discusses the origins of fiduciary duty and the sharp differences between brokers and investment advisers duties to their clients. Professor Laby notes that fiduciaries are very different from other types of services providers, because they uniquely have a duty to “adopt the principal’s goals, objectives or ends… and promote those ends.”

The Fiduciary Standard: What is it?

Robert A. Prentice, JD
Chair-Business, Government and Society
McCombs School of Business
University of Texas at Austin

Prof. Robert Prentice said that for even savvy, well-educated investors, the perception is that brokers already do have fiduciary duty to clients. He discussed how the law can help shape the culture of a profession. He highlights the significant difference between the law requiring advisors to do what’s in the best interest of their clients and it not doing so. This requirement changes the behavior of advisors, thus changing the culture of the financial services industry..

*The presentations of professors Frankel, Laby and Prentice are from The Fiduciary Forum 2010, and courtesy of, The Committee for the Fiduciary Standard.

Allan Slider

 

Allan Slider, founder of FeeOnlyNetwork.com and a good friend of the Institute is interviewed by Kevin Price, Host of the Price of Business Show.

Slider explains in this interview why only 2% of financial advisors—those that are “fee-only”—can offer unbiased financial advice, free from the conflicts of commission, and are held to the highest standard of fiduciary care.

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

  • Contact

 

  • LinkedIn
  • Twitter

Copyright © 2021 · Web Design by Milkweed Web