At the fi360 conference last week, wealth manager and soon-to-be professor, Ron Rhoades, won The Tamar Frankel Fiduciary of the Year Award, presented by The Committee for the Fiduciary Standard.
Rhoades (left), who has for many years been an advocate, on behalf of investors, of the fiduciary standard, is also one of the IA 25. Rhoades is director of research and chief compliance at the registered investment advisor (RIA) Joseph Capital Management, LLC. He is an advisor to the Committee. This editor is a member of the Committee.
"The Committee for the Fiduciary Standard wanted to stand back and acknowledge an individual who has been an outstanding proponent of the fiduciary standard," said Committee Chairman and Regulatory and Compliance officer at RIA Rembert Pendleton Jackson, Knut A. Rostad, before he presented the award. "Earlier this year I approached Boston University Law Professor Tamar Frankel to ask if she would lend her name to such an award."
"Professor Frankel,” perhaps the most revered fiduciary scholar in the world, “has lived a fiduciary life,” Rostad continued. “She emigrated from Israel to America after the War, and I can appreciate that because my father did that after the War, as well, from Norway. I had the opportunity to talk with Professor Frankel’s son in New York recently, and he said, 'My mother talks about being in the Israeli Air Force in the early 1940s, but what she doesn't talk about is that she helped write the Israeli Constitution.'"
Frankel is one of AdvisorOne's 50 Top Women in Wealth for 2010.
The person the Committee selected for the 2011 award “has altered the course of the fiduciary discussion in Washington,” Rostad said. “I am extraordinarily pleased to present, on behalf of the steering group of The Committee for the Fiduciary Standard, the 2011 Tamar Frankel Fiduciary of the Year Award to Ron Rhoades.”
"Ron Rhoades lives a fiduciary life of service to others," Rostad told AdvisorOne, "His enormous contributions to the fiduciary discussion testify to what it means to be a fiduciary."
Rhoades told AdvisorOne after the ceremony"I am so surprised and honored to receive this award, especially since so many advisors have dedicated themselves, for decades, to the advancement of the bona fide fiduciary standard of conduct. Much work remains, and together we can make a difference."