The New Fiduciary Standard: The 27 Prudent Investment Practices for Financial Advisers, Trustees, and Plan Sponsors

The New Fiduciary Standard: The 27 Prudent Investment Practices for Financial Advisers, Trustees, and Plan Sponsors

by Tim Hatton
     
 

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

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Overview

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.

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Product Details

ISBN-13:
9781576601839
Publisher:
Wiley
Publication date:
05/02/2005
Series:
Bloomberg Financial Series, #39
Pages:
192
Product dimensions:
5.80(w) x 8.68(h) x 0.82(d)

What People are saying about this

From the Publisher
"Tim Hatton tells fiduciaries exactly what they need to know anddoes so with clarity and care."
Burton G. Malkiel
Author, A Random Walk Down Wall Street

"Every financial professional should have Tim Hatton's TheNew Fiduciary Standard on the desk. It will assure clients thattheir adviser has a commitment to the highest professionalstandards."
L. William Seidman
Chief commentator, CNBC
Former Chairman, Federal Deposit Insurance Corporation (FDIC)

"At last! A book that actually helps fiduciaries apply prudentfiduciary investment standards in a practical way. I stronglyrecommend that all those who have an interest in modern prudentfiduciary investing—trustees of 401(k) plans, charitablenonprofits, private family trusts, and public employee retirementplans—pick up a copy of Tim Hatton's excellent book, TheNew Fiduciary Standard, and employ its teachings."
W. Scott Simon, J.D., CFP, AIFA
Author, The Prudent Investor Act: A Guide toUnderstanding

"If you could recommend only one book to a financial adviser, itwould be Tim Hatton's The New Fiduciary Standard. It willchange them forever. Pandora's box has been opened, never to beclosed again."
Stephen C. Winks
Founder, The Society of Fiduciary Advisors
Founder, Senior Consultant (www.SrConsultant.com)

"Tim Hatton has captured the essential essence of thefundamental requirements of fiduciary responsibility. His practicalcase-study approach to the application of the 27 Practicesidentified by the Foundation for Fiduciary Studies, in aneasy-to-understand style, is a must-read for anyone havingresponsibility for 'other people's money.' His explanation of thehistory and evolution of the current body of knowledge applicableto what has become the ‘Fiduciary Standard’ is usefulfor both the novice and experienced professional at every level ofadvice giving."
Clark M. Blackman II, CPA/PFS, CFA, CIMA, CFP/AAMS
Partner and Chief Investment Officer, Investec Advisory Group,L.P. (Houston)

"For those of us who are beneficiaries or trustees, or whoadvise them, Tim Hatton's The New Fiduciary Standard offersus a way to exercise our fiduciary investment responsibilities, orto advise on them, with excellence. We have long needed such arepository of investment practices to help us make the promises ofthe Prudent Investor Rule come true. Now we have it with Hatton asour guide!"
James E. Hughes Jr., Esq.
Author, Family WealthKeeping It in theFamily

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