Your clients must exercise great care in selecting fiduciaries such as executors, trustees, and agents. These decisions may affect the client and the client's family members for many years. Decisions regarding the appropriate persons to select are, naturally, for your clients to make. However,...

Investment managers owe fiduciary duties to clients, including the duty of loyalty and the duty of care. A persistent question, with no clear answer, is what precisely is required by the duties of loyalty and care. In this paper, I argue that much of investment management regulation is a...

This paper discusses the duties of a fiduciary with respect to underperforming assets held in a client's account. A trustee, investment adviser, and investment manager each is a fiduciary. Because trust law most clearly articulates fiduciary rules, this paper focuses on trust law as the...

An inability to accurately detect quality prior to or even after purchase distinguishes professional advice from other consumer goods or services. A consumer that is unable to assess the difference between an advisor's recommendation and the ideal recommendation is vulnerable to the self-serving...