What is a fiduciary?
This is a term that receives frequent attention in media discussions of the wealth management industry.
To Quote from the Prudent Investment Practices - A Handbook for Investment Fiduciaries. In the context of investment management, fiduciary status is determined by facts and circumstances, but is generally defined as a person who:
- Manages property for the benefit of another
- Exercises discretionary authority or control over assets, and/or
- Acts in a professional capacity of trust, and renders comprehensive and continuous investment advice.
Fiduciaries have the most important, yet most often misunderstood role in the investment process: to manage the Investment Practices, upon which all the other components of the investment plan rest. These Practices allow us to define, implement, and evaluate the investment plan.1
Neil, Tyler, and Dwight are happy to answer any questions you may have on this topic, and the Investment Practices that allow for the successful management of investment decisions.
1. Prudent Investment Practices – A Handbook for Investment Fiduciaries, Foundation for Fiduciary Studies, 2003.
Being an executor
At the end of March, we hosted a lunch and learn on the topic of “Being an Executor”, with guest speak Robert Mendenhall of our Tax and Estate Department.
The event was well attended and the feedback very positive. We thought we’d share a couple of handouts from the presentation, along with our Estate Record Keeper.
As always, feel free to contact us if you have any questions.
Capital Group — Here’s why you shouldn’t give up on international stocks
Investors may be disappointed by lackluster results from international stocks, but there are important reasons to stay the course...
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Lorica — What we think…
With so much focus on the “Trump trade”, there is irony in the fact that the Fed is once again taking responsibility for moves in the bond market. It is no longer the assumption of benign monetary policy that has kept yields low and rallied risk assets, but rather that the credible message of tighter policy through higher rates and balance sheet-unwind that has raised yields.
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