Financial Institutions as Fiduciaries: Managing Conflicts of Interest in the Wealth Management Business
116 Pages Posted: 24 Jul 2010
Date Written: October 6, 2006
This paper examines the different fiduciary and regulatory standards applicable to bank trust departments, securities brokers, and investment advisers and suggests guidelines for managing conflicts of interest in the wealth management business.
Keywords: fiduciary duty, fiduciary standards, securities broker, investment adviser, broker-dealer, conflicts of interest, uniform prudent investor act, bank trust department, prudent investor rule
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