The question of meaningful, professional disclosure can be addressed in a number of ways. The most obvious way is to comply with the letter of the regulation. As such, product manufacturers need to make clear disclosures in their prospectuses and offering memoranda, inlcuding what their products cost and any associated permutations, such as taxes, performance […]
If the 1960s were the decade when big tobacco had to come to terms with the mountains of scientific evidence that their products are addictive and carcinogenic and this is the decade when big oil has to come to terms with the mountains of evidence that CO2 emissions contribute to climate change, when will big […]
According to IIROC’s most recent proposal regarding financial planning standards, member firms will soon be expected to check whether or not representatives who provide financial plans have completed a single course on financial planning from the CSI or have qualified for one of various financial planning designations. A resulting fear is that, if approved, member […]
Stephen Covey, the author of Seven Habits of Highly Successful People, has made a good part of his reputation by getting people to focus on things that are genuinely important rather than those that are merely urgent. As advisors, we play a similar role in helping our clients make sense of competing products and strategies. […]
(March 2008) How exactly might a person define the word “material” — as in: “Professional Advisors must always disclose all material facts when making product and strategy recommendations to clients?” The dictionary suggests synonyms like relevant, substantial and pertinent could all be used in place of the word “material.” To my mind, any piece of […]
(February 2008) In an attempt to gain (or at least retain) market share, some mutual fund companies have taken to increasing the trailing commissions paid to advisors once DSC schedules near expiration. The idea is that since MERs are unchanging, why not pay out higher amounts to advisors once the high cost of the up-front […]
(June 2006) Are you truly happy in your job? Does your current position offer you everything you thought it would, or is there something missing? For those who don’t want to be corporate lifers in a single company, it’s important to find a fit with a firm that suits both their ambitions and skill set. […]