You may have noticed that the Department of Labor (DoL) has made headlines recently regarding retirement accounts. It has issued a finalized rule requiring the brokerage industry to abide by the same fiduciary standard as RIAs in investing clients’ retirement accounts. The fiduciary standard consists of a duty of loyalty and care, and simply means that the advisor must act in the best in interest of his or her client. Additionally, firms may no longer provide financial incentives for advisers to … [Read more...] about Does the DoL Ruling Affect Your Accounts?
I have been surprised that many of my greatest blessings have come after my greatest trials. One example is Amelia receiving the epiphany to marry me as I wept over a failed statistics exam in my MBA program. Amelia’s passing has been one of my greatest trials, but it is yielding great blessings in lessons learned. My thoughts are prompted by a BYU Alumni Magazine article, Healing=Courage+Action+Grace, by Jonathan G. Sandberg. What is healing? Elaine Marshall, a professor of nursing at … [Read more...] about “Healing”
San Diego Superior Court Faces Historic Budget Cuts Services Reduced, Hundreds May Be Laid Off, Courtrooms Shuttered CA budget cuts force Tulare Courthouse closure Los Angeles Superior Court Budget Cuts Affect 431 Employees Recent California newspaper headlines point to increasing difficulties as the economic downturn forces major budget cuts. The closing of courts, layoff of personnel, and extended court calendars will make the life of a fiduciary more complex. Since Prudent … [Read more...] about Not Business As Usual
At a training Prudent Investors Network (PIN) provided for the California State Association of Public Administrators, Public Guardians and Public Conservators (CAPAPGPC) I shared the fact that as a youth I did not think about laws. That changed only when I was 17 and was stopped by a policeman for being a passenger on a scooter without a helmet. It was bad enough that the driver only had a learner’s permit, but the worst part was the traffic stop occurred in front of the judge’s home who … [Read more...] about Life and Death
During these turbulent times it is prudent to review the laws fiduciaries are accountable to. The world is going through the greatest economic upheaval since the Great Depression. In light of the laws, how will fiduciaries be affected and how should they respond? The Uniform Prudent Investor Act (UPIA) has been adopted by 44 states. It is the standard to which you are held when serving as a Trustee of most trusts. In many states, guardianships are encouraged to follow the principles of UPIA as … [Read more...] about Maintaining Compliance with the UPIA