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Read the Rules

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I’ll preface my comment with the caveat that I’m all in favor of the CFP Board incorporating the word “fiduciary” in its Code. Having said that, I still have trouble with the nonsense that surfaces in the “fiduciary” debate. Most recently, my frustration/ confusion was raised by a tidbit in the July issue (Beginnings/News) that reported “A recent member-wide survey of the FPA… asked, ‘The CFP Board Code of Ethics does not clearly mandate a fiduciary standard requiring a planner to act in a client’s best interest…’” [my italics]

Doesn’t anyone ever actually read the Code?

Rule 202 (Rules that Relate to the Principle of Objectivity) reads (verbatim):

“A financial planning practitioner shall act in the interest of the client.”

As a Southerner, my English may be weak; however, Rule 202 seems to be a pretty clear mandate to me.

Harold R. Evensky, CFP


Evensky & Katz

Coral Gables, Florida

Another Satisfied customer

This morning’s business section of the St. Louis Post Dispatch had a column that mentioned Stuart Zimmerman being appointed to the Investment Advisor Leaders’ Council. When I sent Stuart a congratulatory e-mail, he was kind enough to send me a link to the Investment Advisor and your interview with him. I was so impressed with the article and your Web site that I’ve already entered a subscription for both my partner and me.

Our firm has been a client of BAM’s for just over a year now and we couldn’t be happier with our progress. My partner used to work with Stuart at RBG approximately 30 years ago and I’ve known Stuart for probably 25 years. One of Stuart’s partners, Bert Schweizer, & I worked together for a while at a different CPA firm and, in fact, our wives were roommates in college. Our partners have known many of the BAM principals for quite a while. It just took a while for us to wise up to what BAM had to offer us and the other 100+ CPA firms aligned with BAM. The education they’ve provided to us has certainly opened our eyes, and we thought we were pretty savvy investors. We didn’t know what we were missing until we hooked up with BAM.

I’m glad that because of Stuart’s appointment that we’ve now discovered a terrific resource. I look forward to receiving your magazine and IA e-newsletters.

Joel Weltman

Mason Road Wealth Advisors, LLC

St. Louis, Missouri

Olivia Mellan’s starting a new radio show:

Olivia Mellan, who shares her insights through her monthly “Psychology of Advice” column, will be doing more sharing beginning Sep. 6 at 10:00 AM through Money Talks with Olivia Mellan, a new call-in radio show on WWDB-AM in Philadelphia.

Mark Tibergien’s got a new book:

Mark Tibergien of Moss Adams fame, who writes Investment Advisor’s lead column each month, “Formulas for Success,” has written a new book detailing how advisors can succeed in transitioning their practices. How to Value, Buy or Sell a Financial Advisory Practice, co-written by Owen Dahl, also of Moss Adams, and published by Bloomberg Press, is selling now through a number of channels, including the Investment Advisor online bookstore.


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