• Skip to primary navigation
  • Skip to main content

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.

  • About
    • Fiduciary Law
    • Board of Directors
    • Board of Advisors*
    • Chairman’s Council
    • Real Fiduciary™ Practices Board
  • Real Fiduciary™
    • Real Fiduciary™ for Investors
      • Real Fiduciary™ Advisor Registry
      • Why You Need a Real Fiduciary™ Advisor
    • Real Fiduciary™ for Advisors
      • Real Fiduciary™ Affirmation Program
      • Real Fiduciary™ Background
  • Fiduciary September
    • 2022
    • 2021
    • 2020
    • 2019
    • 2018
    • 2017
    • 2016
    • 2015
    • 2014
    • 2013
    • 2012
  • Frankel Prize
    • 2022
    • 2021
    • 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

“Raise Your Voice” Campaign

Adviser Groups to RIAs: Show Your Independence. Explain to the SEC How You’re Different from Brokers.

Time-urgent “Raise Your Voice” campaign begins now.

Washington, D.C., June 28, 2018 – Several nationally recognized groups of fiduciary advisers today announced an initiative to urge RIAs (SEC and state registered investment advisers) to write the SEC (Securities Exchange Commission) and explain how independent financial advisers are different from brokers. The initiative launches as the SEC seeks comments on proposed rules related to standards for FINRA licensed brokers and SEC / state registered investment advisers. Comments are due August 7th and should be emailed to [email protected] (Subject line: S7-08-18).

What Advisers Can Do

Write the SEC . Write an article for an industry outlet. Use the social media graphics (below) to spread the message.

Fiduciary Expert Letters

  • August 6 Letter from Ron A Rhoades regarding Reg BI
  • August 7 Letter from Massachusetts Secretary of the Commonwealth, William Galvin

Adviser Comment Letters

  • August 7 Letter from Charles Ryan of Atlantic Financial Planning
  • August 6 Letter from Paula Hogan of Hogan Financial
  • August 2 Letter from Patricia P. Houlihan of Houlihan Financial Resource Group
  • August 2 Letter from Anandi Krishnamurthy of AKRISH Financial Advisory
  • August 1 Letter from Michael Pace
  • July 27 Letter from Maria Elena Lagomasino of WE Family Offices
  • July 24 Letter from Larry Maddox of Horizon Advisors
  • July 17 Letter from Mark Sievers of Epsilon Financial Group
  • July 18 Letter from Scott MacKillop of First Ascent Asset Management

Campaign materials

Final Press Release

Hypothetical SEC Disclosure

Social media graphics

Virtual Press Conference

Press Conference Announcement

Presentation Slides

Audio Transcript

News Stories on the Campaign

Campaign Launch Coverage – June 28, 2018

PRNewswire: https://www.prnewswire.com/news-releases/adviser-groups-to-rias-show-your-independence-explain-to-the-sec-how-youre-different-from-brokers-300674171.html

Financial Planning Magazine: https://www.financial-planning.com/news/fee-only-advisors-ask-sec-to-distinguish-them-from-brokers

Investment News: http://www.investmentnews.com/article/20180628/FREE/180629919/organizations-launch-campaign-to-get-investment-advisers-to-comment

Wealth Management: http://www.wealthmanagement.com/regulation-compliance/coalition-rias-seeks-sway-sec-over-advisorbroker-definitions

ThinkAdvisor: https://www.thinkadvisor.com/2018/06/28/coalition-asks-rias-to-tell-sec-how-they-differ-fr/

Advisor Perspectives: https://www.advisorperspectives.com/articles/2018/06/28/the-sec-is-failing-to-serve-retail-investors

Ongoing Campaign Stories

July 18, 2017 – Financial Engines, Edelman push for stronger SEC broker rule

July 19, 2018 – Letter-Writing Campaign Goes After SEC Best-Interest Proposal

July 28, 2018 – Shops Line Up at SEC Offices to Sway ‘Best Interest’ Outcome

August 3, 2018 – Regulation BI is BS

August 6, 2018 – SEC Gives Brokers Free Pass On Fee Disclosures, Fiduciary Group Says

August 6, 2018 – Investors want more information about financial advisers’ fees

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

  • Contact

 

  • LinkedIn
  • Twitter

Copyright © 2023 · Web Design by Milkweed Web