The Center for Due Diligence

CFDD Investment Commentary

1/10/2010--Many investment reporting solutions are standardized products with pre-designed reports and limited customization. The Advisor Workstation, PlanTools, Lipper, FiRM, Newkirk and fi360 offer nuances in look, reports and functionality, but excluding Lipper, most use Morningstar for data population. Contrastingly, institutional products like MPI, Zephyr, Direct and EnCorr are customized "insource" solutions with holdings-based, returns-based and asset allocation nuances. As an industry first, the CFDD's October 6-8, 2010 Advisor Conference has scheduled a slate of back-to-back investment reporting sessions to compare all the major investment reporting solutions.

CFDD Retirement Plans Commentary

1/10/2010--Many advisors refuse to acknowledge fiduciary status. Others ignore it and some remain unaware of their ERISA obligations. Some advisors acknowledge their fiduciary status on a functional basis, but won't put it in writing. Others acknowledge the status in writing, but their contracts may attempt to limit liability. A select group will acknowledge their fiduciary status in writing and accept liability for discretionary investment control. A few have gone further by advocating a Full-Scope "named fiduciary" role. The confusion surrounding fiduciary roles underscores the need for clarification of the distinctions between the different roles and how they impact the advisor's practice.