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

Fb2 The New Fiduciary Standard: The 27 Prudent Investment Practices for Financial Advisers, Trustees, and Plan Sponsors ePub

by Donald B. Trone,Tim Hatton

Category: Finance
Subcategory: Business and Work
Author: Donald B. Trone,Tim Hatton
ISBN: 1576601838
ISBN13: 978-1576601839
Language: English
Publisher: Bloomberg Press (May 11, 2005)
Pages: 256
Fb2 eBook: 1338 kb
ePub eBook: 1883 kb
Digital formats: mobi azw docx doc

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Financial advisers and others offering investment advice will add .

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.

The New Fiduciary Standard book. 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.

Investment advisors Legal status, laws, etc United States Financial planners Trusts and trustees Investments Law and legislation Financial services industry.

The new fiduciary standard : the 27 prudent investment practices for financial advisers, trustees, and plan sponsors Tim Hatton, in cooperation with the Foundation for Fiduciary Studies. The new fiduciary standard : the 27 prudent investment practices for financial advisers, trustees, and plan sponsors Tim Hatton, in cooperation with the Foundation for Fiduciary Studies. Investment advisors Legal status, laws, etc United States Financial planners Trusts and trustees Investments Law and legislation Financial services industry.

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.

The New Fiduciary Standard: The 27 Prudent Investment Practices for Financial Advisers, Trustees, and Plan Sponsors. by Tim Hatton, CFP, CIMA, AIF In cooperation with the Foundation for Fiduciary Studies. Deena Katz on Practice Management: For Financial Advisers, Planners, and Wealth Managers. Deena Katz’s Tools and Templates for Your Practice: For Financial Advisers, Planners, and Wealth Managers. Building a High-End Financial Services Practice: Proven Techniques for Planners, Wealth Managers, and Other Advisers by Cliff Oberlin and Jill Powers.

The New Fiduciary Standard helps fiduciaries understand the practical .

The New Fiduciary Standard helps fiduciaries understand the practical application of their duties, provides a range of reference materials, encourages fiduciaries to adhere to a higher standard, and breeds a high expectation for achievement for both fiduciary and their client. From the AICPA's Note to the Reader. Clarifies the fiduciary requirements facing today's financial advisers and plan sponsors. Incorporates and expands on the Five Steps and 27 Prudent Practices articulated by the Foundation for Fiduciary Studies.

The New Fiduciary Standard: The 27 Prudent Investment Practices for Financial Advisers, Trustees . This book will be an indispensable tool for anyone who suddenly (or not) wakes up to find himself trustee of a family trust.

The New Fiduciary Standard: The 27 Prudent Investment Practices for Financial Advisers, Trustees, and Plan Sponsors Hardcover. Even for the experienced lawyer or investment manager advising in the creation of trusts or managing trust assets, Train and Melfe provide not only an invaluable checklist, but an essential corrective for the serious misconceptions that abound in the realm of trust management.

This book identifies the 27 Prudent Practices, organized underthe Five Steps, that were developed by the .

This book identifies the 27 Prudent Practices, organized underthe Five Steps, that were developed by the Foundation for FiduciaryStudies?measures that professionals can take to demonstratethat they accept, understand, and are fulfilling the role of afiduciary. Attorneys, CPAs, and others serving as trustees will possessthe knowledge to determine whether or not their clients?investment portfolios are being managed appropriately.

Описание: The 27 Prudent Investment Practices for Financial Advisers Trustees and Plan Sponsors.

Financial advisers, trustees, and plan sponsors—in fact,anyone who provides investment advice—may be held to afiduciary standard of care for the financial well-being oftheir clients, beneficiaries, or employees.

Accountants, attorneys, and wealth managers all need to knowabout these responsibilities. But what, exactly, is meant by theterm fiduciary standard? What must advisers do to be suretheir procedures meet legal and ethical standards?

This book identifies the 27 Prudent Practices, organized underthe Five Steps, that were developed by the Foundation for FiduciaryStudies—measures that professionals can take to demonstratethat they accept, understand, and are fulfilling the role of afiduciary.

Financial advisers and others offering investment advice willadd meaningful value to their practice and show tangible evidenceof what sets them apart from the pack.Attorneys, CPAs, and others serving as trustees will possessthe knowledge to determine whether or not their clients’investment portfolios are being managed appropriately.Plan sponsors will know what to look for in selectinginvestment consultants and in giving employees the disclosures andinformation they need.

The most far-reaching trend in the financial-advisory businesstoday is the move toward a fiduciary standard of care. This bookestablishes for the industry a credible investment-decision processthat will meet the growing expectations of investors and regulatorsfor integrity, transparency, and disclosure of fees and conflictsthat affect their returns.

Comments to eBook The New Fiduciary Standard: The 27 Prudent Investment Practices for Financial Advisers, Trustees, and Plan Sponsors
Ces
This book is not light-hearted reading. It is very informative, clear cut, but DRY (Would it have killed Mr. Hatton to put in ONE amusing story?) Excellent book for the subject, could almost be used as a text book. Learned much!
Olma
Good reference book
Nikohn
I came across this book through someone that is a frequent user of the Fi360 website. From a practical standpoint, the information you learn through reading this book can save you from a lawsuit or give you a defensible leg on which to stand! However, from a good-guy (person) perspective, embrace your fiduciary duty; if you are giving investment advice you owe a fiduciary duty to your clients. After reading this book, I'm considering adding the AIFA or AIF designation.
Kearanny
Very good book to have if high standards is observed in daily investment practices. It is easy to use and understand. It could use some more explanation of use.
Meztihn
Real heartwarming piece this is not.
But I have used this book as source and resource for winning fidciary accounts and HNW client accounts.
Avarm
This is a must read book for fiduciaries and investors everywhere. Tim Hatton, President of Hatton Consulting, a registered investment advisor in Phoenix, does an excellent job of explaining why there is a standard of conduct for fiduciaries, what that standard is, and how to incorporate this fiduciary standard into our everyday business models. He begins by reviewing investors' behavior during the late 1990's, and uses this example to show what happened when investors abrogated sound investment principles in favor of wild speculation in search of above market returns in the stock market. He makes a case that investment return is far more dependent on investor behavior than fund performance. His solution is to make sure that investors are in alignment with sound investment principles, and to manage the investment process by not straying from these principles during the twists and turns of the markets. This is the essence of what a fiduciary does.

A fiduciary puts his clients' interests first. That should be standard operating procedure for each of us and is the clearly stated goal of the AICPA. That is why they have endorsed Tim Hatton's new book "The New Fiduciary Standard."

There are more than 5 million fiduciaries in the U.S. today. These may include investment advisers, trustees, accountants, attorneys, and consultants. It is possible that you might be considered to be a fiduciary and you don't even know it!

The first part of the book is an excellent discussion of the history of modern portfolio theory. This section is a good read and will appeal to those who have an interest in investments. I particularly enjoyed his discussion of the Fama-French 3-Factor Model. Mr. Hatton concludes this section by saying that "the best way ...is to use the investment tools that have been developed on the basis of the principles of Modern Portfolio Theory." These tools represent a sound investment strategy.

The second part of the book is a discussion of the 5 steps and 27 practices of the fiduciary standard and how he incorporates these into his practice. He systematically goes through each step and each practice to show what his firm does to implement each of these steps of the fiduciary process. This part of the book is very much about "process" and the proper execution of this appropriate process. Hatton walks us through the steps of analyzing the investor's current position, achieving diversification through asset allocation, formalizing an investment policy that is appropriate for the investor, how to implement this policy, and how to monitor the portfolio and supervise money managers in order to better accomplish the investor's investment objectives. I was able to apply his discussions about "Best Execution Policy" and "Monitoring the Portfolio" to better explain what our firm does. These are responsibilities that we should take seriously.

There can be no question that we can benefit from seeing how we measure-up in our roles as fiduciaries. What a great way to get better at what we do. Tim Hatton and the Foundation for Fiduciary Studies not only provides a standard, but also tries to make it real for us, so that we can apply it in our everyday work lives. I would challenge each of you advisors to improve your process. This book will help you do it. Investors should now know what to look for when hiring an advisor. Does your advisor measure up? Does he put your interests first? Or are there conflicts of interest?
Flash_back
This is an excellent book that lays our the standards for fiduciaries. Although it would be helpful for those looking aroudn for a financial advisor, it goes through the specific standards that are most relevant for fiduciary practices. It isn't long and doesn't waste time. If you are in the financial advisory business, you should get this. It will make you think through the details of how you service clients.
The author does a good job of explaining the Prudent Investment Practices and how these are incorporated into his investment advisory process. This will be a good book for investment consultants who are looking to define a disciplined investment process for their practice. This is a clearly defined picture of the future of high quality investment advice.
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