Search This Blog

Monday, January 20, 2014

Hello to the newest member of our office - Akemi!

Our office has acquired a new member - Akemi, the betta fish! She has been a little quiet around the office so far, but we expect big things from her in the future.

Wednesday, January 8, 2014

Word to the Wise : When is investment advice subject to a fiduciary standard?

An interesting article here:

The article discusses how ERISA holds that people advising employees/retirees on investment accounts are held to a fiduciary standard - meaning they have to put the interests of the client first before their own. However, when is advice really investment advice, and when is it not? Since this is narrowly defined in ERISA, often advice does not meet the criteria of "investment advice", and therefore the advisor is not held to the standard of a fiduciary.

Moral of the story: be careful and do your own research when someone from your financial institution gives you advice or information. It may not always be what is in your own personal best interest - and the advisor does not always need to tell you the motivation behind their advice.

Be wary, investors!