The Institute for the Fiduciary Standard has produced a white paper on best practices that puts an emphasis on addressing "conflicts of interest," the "reasonableness and transparency of fees and expenses," and "communications that are clear, complete and truthful."
The white paper, "Key Principles for Fiduciary Best Practices and An Emerging Profession," focuses on the principles that should be the basis for best fiduciary practices going forward and how they differ from the principles on which brokerage sales practices are based, the institute said.
"These points in and of themselves may come across as being obvious," Knut A. Rostad, president of the Institute for the Fiduciary Standard, said during a conference call. "They may come across as being non-controversial, and they may come across as being sort of so blatant that you can ask, 'Well, why do they need to be identified at all?'"
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Emily Zulz
Emily joined the ThinkAdvisor team as a reporter in the summer of 2014. She previously worked as a reporter for The Daily Journal in Kankakee, Illinois for a year and as a reporter and editor for The Daily Eastern News in Charleston, Illinois for two and a half years. Prior to joining ThinkAdvisor, Emily worked on Groupon’s editorial team in Chicago as a fact checker for three years. She graduated cum laude with a BA in journalism from Eastern Illinois University, and she has been the recipient of two journalism awards for her news reporting at daily newspapers.
