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.

Fiduciary September 2012

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Fiduciary September 2012

Fiduciary September features initiatives aimed to advance the fiduciary spirit and status. It includes:

  • Urging Congress and the SEC to apply the fiduciary standard and the six core fiduciary duties to all professionals rendering investment advice.
  • Urging industry participants to embrace fiduciary duties when investment advice is rendered.
  • Educating investors about the sharp differences between fiduciary advisors and sales brokers.

 

Fiduciary Declaration Announced

The “Fiduciary Declaration” signed by twelve highly respected leaders in the financial services industry urges Congress, the Securities and Exchange Commission and Department of Labor to heighten and extend protections to investors receiving investment advice. The Institute presented this declaration to SEC Chairman Schapiro in a private meeting on September 11.

>> Full text of the Declaration
>> Knut Rostad’s Report on the September 11 Meeting

News

Media Coverage

The Signatories

Thank you to the twelve highly respected leaders in the financial services industry who signed the fiduciary declaration. Click below for their names and brief bios.

>> The signatories to the Fiduciary Declaration

Fiduciary September Gains International Attention

Thank you to the Canadian Foundation for Advancement of Investor Rights for featuring our initiative on their web site.

September 5, 11:00 AM – 12 Noon
Educational webinar for reporters. (Rostad’s Presentation) (Rhoades’ Presentation)

September 11
Unveiling of the Fiduciary Declaration and discussion in meeting with SEC Chairman Schapiro (Fiduciary Declaration – PDF).

September 25
Fiduciary Forum 2012
Venue: CATO Institute.
Speakers include former SEC Chairman Harvey Pitt.

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