Prudent Practices For Investment Stewards And Investment Advisors Worldwide Edition

Author : Tim Hatton
Publisher : Bloomberg Press
ISBN 13 : 1576601838
Total Pages : 192 pages
Book Rating : 4.5/5 (766 download)

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Download or read book The New Fiduciary Standard written by Tim Hatton and published by Bloomberg Press. This book was released on 2005-05-01 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial advisers, trustees, and plan sponsors—in fact, anyone who provides investment advice—may be held to a fiduciary standard of care for the financial well-being of their clients, beneficiaries, or employees. Accountants, attorneys, and wealth managers all need to know about these responsibilities. But what, exactly, is meant by the term fiduciary standard? What must advisers do to be sure their procedures meet legal and ethical standards? This book identifies the 27 Prudent Practices, organized under the Five Steps, that were developed by the Foundation for Fiduciary Studies—measures that professionals can take to demonstrate that they accept, understand, and are fulfilling the role of a fiduciary. Financial advisers and others offering investment advice will add meaningful value to their practice and show tangible evidence of what sets them apart from the pack. Attorneys, CPAs, and others serving as trustees will possess the knowledge to determine whether or not their clients’ investment portfolios are being managed appropriately. Plan sponsors will know what to look for in selecting investment consultants and in giving employees the disclosures and information they need. The most far-reaching trend in the financial-advisory business today is the move toward a fiduciary standard of care. This book establishes for the industry a credible investment-decision process that will meet the growing expectations of investors and regulators for integrity, transparency, and disclosure of fees and conflicts that affect their returns.