June 9, 2017
Image credit: Harriet Goodhue Hosmer, “Clasped Hands of Robert Browning and Elizabeth Barrett Browning,” (1853), National Gallery of Art
Today, the U.S. Department of Labor’s rule on fiduciary duty goes into effect (at least for now), requiring anyone giving specific investment advice on retirement accounts to act in the best interest of his or her client.
Here’s a compendium of most of what I’ve written on fiduciary duty, along with some other resources.
Advisers Who Call Themselves Fiduciaries May Not Live Up to It
The Key to the Best Financial Advice: ‘Humility in Large Doses’
You — Not the Government — Are Responsible For Your Retirement Savings
How Come It’s Still Harder to Become a Hairdresser than a Financial Adviser?
The Difference between an Investment Firm and a Marketing Firm
Chapter Ten, “The Investor and His Advisers,” in The Intelligent Investor
Definitions of FIDUCIARY DUTY and FINANCIAL ADVISOR in The Devil’s Financial Dictionary
Tamar Frankel, “Fiduciary Law” (article)
Tamar Frankel, Fiduciary Law (book)
Arthur B. Laby, “Fiduciary Obligations of Broker-Dealers and Investment Advisers”
Robert E. Plaze, “Regulation of Investment Advisers”
John C. Bogle, “The Fiduciary Principle: ‘No Man Can Serve Two Masters’”
Research on trust by Luigi Zingales
Comprehensive materials on the fiduciary rule, including text of the regulation and public comments, at the U.S. Department of Labor website
Securities Industry and Financial Markets Association: DOL Fiduciary Standard Resource Center (bias: against the rule)
Institute for the Fiduciary Standard (bias: in favor of the rule)
FredReish.com (blog on implementation of the fiduciary rule by a leading attorney)