Here, for the first time, The New Fiduciary Standard
- 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
- Explains in detail, with research findings and real–world illustrations, this the only widely accepted method for ensuring that your advice to clients fulfills the letter and spirit of a fiduciary′s duties
- Includes guidelines and sample documents plus a valuable review of portfolio theory
Long anticipated, much needed, The New Fiduciary Standard walks professionals you through an organized process for making informed, consistent, and defensible investment decisions.
"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
Donald B. Trone).
A Summary of the Five Steps and Twenty–Seven Practices.
PART ONE: MODERN PORTFOLIO THEORY.
Chapter One: Early Years.
Chapter Two: Practical Applications.
PART TWO: THE FIVE STEPS AND TWENTY–SEVEN PRACTICES.
STEP ONE: Analyze Current Position: Practices 1.1–1.6.
STEP TWO: Diversify Allocate Portfolio: Practices 2.1–2.5.
STEP THREE: Formalize Investment Policy: Practices 3.1–3.7.
STEP FOUR: Implement Policy: Practices 4.1–4.4.
STEP FIVE: Monitor and Supervise: Practices 5.1–5.5.
APPENDIX I: Sample Investment Policy Statements.
APPENDIX II: Subsequent Performance of Mutual Funds: Past Winners′ Uncertain Future.
Continuing–Education Exam for CFP Continuing–Education Credit and PACE Recertification Credit.