From the October 2009 issue of Investment Advisor • Subscribe!

Fiduciary Scorecard

Sidebar to Mike Patton's article "One True Thing"

As part of the screening process of mutual funds that I might use for my clients, I decided early in 2009 to search for global fiduciary standards of money management. After viewing a number of sources, I developed what I call a Fiduciary Scorecard that considers a number of different metrics for each fund and compares it to its specific peer group or subcategory.

For example, if the fund's expenses are lower than its category average it receives a point. If the expenses are higher, no points are awarded. The scorecard includes nine different metrics in five different categories. The results are based on a point system and a perfect score is 100%.

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