What, exactly, does fiduciary really mean? – Investment News

Had a great weekend but didn’t follow up on the fiduciary rule, which I had promised. The following article does a great job in covering this issue. It is a must read, and written by a very knowledgeable expert on the fiduciary rule.

What, exactly, does fiduciary really mean? – Investment News

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One Response to “What, exactly, does fiduciary really mean? – Investment News”

  1. Kate McBride Says:

    A group that includes leaders in the investment industry, The Committee for the Fiduciary Standard, has called on Congress to “adopt an authentic fiduciary standard in Wall Street reforms,” and offered “five core principles” of the fiduciary standard to help individual investors understand the differences between the investment advisors’ fiduciary standard and brokers’ “suitability standard.”

    The five core principles are:
    · Put the client’s best interests first;
    · Act with prudence; that is, with the skill, care, diligence and good judgment of a professional;
    · Do not mislead clients; provide conspicuous, full and fair disclosure of all important facts;
    · Avoid conflicts of interest; and
    · Fully disclose and fairly manage, in the client’s favor, unavoidable conflicts.

    To show support for the authentic fiduciary standard, the Committee is urging investors and financial industry professionals who agree with putting investor’s interests first to sign a petition registering that point of view and calling Congress to put investors’ best interests first
    To read more:

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