What Are the Five Principles of Fiduciary and How Do They Apply to Brokers Who Provide Advice?
President, Evensky & Katz Wealth Management
Who could say “No” to the Mom and apple pie essentials of fiduciary duty? At the Fiduciary Forum in September 2010, wealth manager Harold Evensky speaks about the five core principles of fiduciary duty, and why disclosures, while mandatory and important, do not replace fiduciary duty putting clients’ interests first. Regarding advice to smaller investors, Evensky notes, there is no particular additional cost in meeting those five principles; it is simply the right thing to do, and the less someone has, the better the advice better be.