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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
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      • August 11th 2015
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  • Jack Bogle

Real Fiduciary™ Initiative

The fiduciary standard has been called “the highest standard under the law.” The Real Fiduciary™* practices will reflect broad fiduciary duties in accordance with common law, statute, regulatory opinions, and the Advisers Act of 1940. The Real Fiduciary™ practices will also reflect the high aspirations for the fiduciary standard expressed in the landmark Supreme Court decision, SEC vs Capital Gains Research. The starting point for the Real Fiduciary™ Practices Board deliberations was the Institute’s paper, Six Core Fiduciary Duties for Financial Advisors.

Real Fiduciary™ Practices

  • Real Fiduciary™ : Professional Conduct Guidance for Advisors

2014 to 2017 Best Practices Development & Comments

The Institute has encouraged public comment on the proposed Best (Real Fiduciary™) Practices. Submitted comments can be viewed here.

2017 News

  • July 20, 2017  —  Webinar on Best Practices Affirmation Program
  • May 16, 2017  —  Sheryl Garrett Endorses Institute for the Fiduciary Standard Best Practices Affirmation Program
  • March 23, 2017 —  First Class of ‘Best Practices’ Advisors Speak out: ‘Fiduciary Advice Leads to Deeper Client Relationships’
  • March 22, 2017 —  Why the Fiduciary Standard Matters to Clients
  • January 30, 2017 —  Best Pratices Affirmation Program Webinar

2016 News

  • September 19, 2016 —  Best Practices Affirmation Program Media Briefing (sound file)
  • September 19, 2016 — Best Practices Fiduciary Advisor Affirmation Program Announced
  • April 19, 2016 — Best Practices for Financial Advisors Media Briefing
  • April 12, 2016 — Best Practices Self-Assessment Documentation

2017 Media Coverage

  • Financial Planning –  March 23, 2017: Fiduciary advocates push alternative approach to DoL rule by Andrew Welsch
  • Financial Advisor Magazine – March 27, 2017: Fiduciary Institute Unveils First Class Of Best Practices Advisors by Juliette Fairley

2016 Media Coverage

  • Financial Planning — December 19, 2016: Bid to grow fiduciary registry gains prominent followers
  • ThinkAdvisor — October 5, 2016: Conflicts of Interest and Advisor Credentials: Then and Now
  • Wall Street Journal — September 21, 2016: Wealth Adviser Daily Briefing: Success in Adviser Succession
  • ThinkAdvisor — September 21, 2016: History Provides Hope for Institute for the Fiduciary Standard’s New Best Practices
  • Fiduciary News — September 20, 2016: Independent “Business Decisions” May Lead Companies to Apply Fiduciary Standard Broadly
  • Financial Planning — September 20, 2016: New fiduciary registry will promote advisers who adhere to strictest guidelines
  • Financial Advisor Magazine — September 19, 2016: Advisors Urged To Commit To Code Of Conduct
  • Investment News — September 19, 2016: Institute for Fiduciary Standard begins program to hold advisers publicly accountable
  • Think Advisor — June 22, 2016: Fiduciary Self-Assessments: Hype or Help?

Best Practices Archive 2014 – 2015

*Effective February 12, 2019, the Institute’s Practices have been renamed Real Fiduciary™ Practices. Prior to this time they were named Best Practices.

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

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