The Fiduciary Standard
Following the 2008 financial crisis, multiple iterations of a Fiduciary Standard have been proposed by Congress, the SEC, The Department of Labor (DOL), and the CFP Board of Standards. Given FIDERE ("the firm") advises families directly, it has had a consistent voice in the discussion about the issues and implications of a fiduciary standard of care for investors. Specifically, FIDERE believes that acting as a fiduciary for its clients is critical, but not every investment or planning-related firm should engage in such relationships.
As of July, 2021, the Fiduciary Standard is available for individual advice with a financial professional, is three ways: 1) through the 1940 Investment Advisers Act ("The Act"), 2) Regulation BI (Best Interests) adoped by the SEC under Jay Clayton in 2020, and 3) by working with a CERTIFIED FINANCIAL PLANNER™ (CFP®).
FIDERE delivers advisory services as a financial planning firm organized under The Act, as a Registered Investment Advisor (RIA) – independent of any broker-dealer, custodian or other financial institution. Additionally, FIDERE does not affiliate with, or receive revenue-sharing from, any third parties. The firm exclusively represent clients to the various intermediaries involved with developing, implementing and managing a financial planning process.
For more information about advisory firm and professional types, please read the above whitepaper "Finding Your Fiduciary." For more information about RIA’s as fiduciaries, visit: https://www.sec.gov/divisions/investment/advoverview.html.