Welcome to Scribd. Sign in or start your free trial to enjoy unlimited e-books, audiobooks & documents.Find out more
Download
Standard view
Full view
of .
Look up keyword
Like this
2Activity
0 of .
Results for:
No results containing your search query
P. 1
Fiduciary Imprudence €“ Washington's Failure to Protect the Nation's Retirement Resources (Don Trone)

Fiduciary Imprudence €“ Washington's Failure to Protect the Nation's Retirement Resources (Don Trone)

Ratings: (0)|Views: 25|Likes:

More info:

Published by: National Press Foundation on Apr 08, 2011
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PDF, TXT or read online from Scribd
See more
See less

05/12/2014

pdf

text

original

 
EFINING A 
LOBAL 
IDUCIARY 
TANDARD OF 
XCELLENCE 
Donald B. TroneCEOFiduciary
360 
Copyright © 2006, Fiduciary360.
HE 
IDUCIARY 
FFECT 
Copyright © 1999-2005. Fiduciary360Foundation for Fiduciary StudiesCenter for Fiduciary StudiesFiduciary Analytics
Every investment industry scandal has had one thing in common:A fiduciary parlayed their position of trust for personal profits.The dollars lost from the mismanagement of public pension planswill likely dwarf all of the other industry scandals, combined.95% of the funds that have been distributed from the tobaccosettlement have been diverted for other purposes.If we don’t begin fixing our retirement plans today, we will befacing a social crisis within 10-to-15 years that will dwarf the GreatDepression of 1929, both in terms of magnitude and duration.“Fixes” are dependent upon the prudent acts of fiduciaries.
Copyright © 2006, Fiduciary360.
EFINITIONS 
Investment Fiduciary– Someone who ismanaging the assets of another person andstands in a special relationship of trust,confidence, and/or legal responsibility.
 
Copyright © 2006, Fiduciary360.
D
EFINITIONS
Investment Stewards – A person who has the legal responsibilityfor managing investment decisions (trustees and investmentcommittee members.)Investment Advisors – A professional who is responsible for
managing
comprehensive and continuous investment decisions(including wealth managers, financial advisors, trust officers,financial consultants, investment consultants, and financialplanners).Investment Managers – A professional who
makes
investmentdecisions; selects the individual securities (stocks and bonds) toimplement a specific investment mandate (such as large capgrowth).
Investment Fiduciary can be further divided into three groups:
Copyright © 2006, Fiduciary360.
ESPONSIBILITY 
vs. L 
IABILITY 
An investment fiduciary can neverdelegate away fiduciary responsibility – itcan be shared with other “co-fiduciaries,”but never given away.However, an investment fiduciary canreduce, if not nearly eliminate, liability byfollowing prudent practices.
Source: Matthew D. HutchesonRadio Host, Retirement Hour
Copyright © 2006, Fiduciary360.
 
Copyright © 2006, Fiduciary360.
ISO- 
LIKE 
PPROACH 
Standardization provides the framework for a commonlanguage, which facilitates the transfer of knowledgebetween the investment committee and their investmentadvisor, investment managers, and constituents.The focus is on excellence – what can be done to improvethe practices of an organization.
Utility of transference 
– based on “Quality ManagementSystems” and internationally recognized procedures forconducting verifications of conformance to definedstandards.
Copyright © 2006, Fiduciary360.
ERIODIC 
ABLE OF 
IDUCIARY 
RACTICES 
Copyright © 2006, Fiduciary360.
ERISA UPIA MPERS
UBSTANTIATION – 
RACTICES FOR 
U.S.
DVISORS AND 
TEWARDS 
Employee Retirement Income and Securities Act(Qualified retirement plans)Uniform Prudent Investor Act(Private trusts, foundations/endowments)Uniform Management of Public EmployeesRetirement Systems Act(State, county, and municipal retirement plans)

Activity (2)

You've already reviewed this. Edit your review.
1 thousand reads
1 hundred reads

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->