NAPFA Fiduciary Duties and Compliance Seminar - June 3, 2009

(Presented at the Gaylord National Conference Center, Maryland, just outside Washington, D.C.)

Seminar attendees may download materials for this seminar with the password which was provided at the pre-conference session. Materials include copies of the outlines and PowerPoint slides of the various speakers at the conference. Passwords will be e-mailed to conference attendees on or about May 15, 2009, at which time most conference materials will be available. A flyer describing the seminar is set forth here.

The documents on the web site were revised on Tuesday, June 2nd, to remove the password which prohibited saving the document and reopening it, without another password being entered. We apologize for any inconvenience this may have caused.

Agenda and Speaker's Biographies

Speaker's Materials:

• A. A Bird's Eye View of Fiduciary Law, by Professor Tamar Frankel
• B.1 A New Professionalism, by Professor Steven G. Blum
• B.2 Presentation Slides, "Financial Advisors, Fiduciary Duty, Conflicts of Interest, and Professionalism", by Professor Steven G. Blum
• B.3 Richard Brown v. Credit Suisse First Boston LLC (2005)
• B.4 Financial Planning Association v. SEC (2007)
• C. How to Build a "World-Class" Compliance System, by Ron A. Rhoades and Tiffany Rhoades, including Exhibit A (Recommended Procedures for Smaller RIA Firms); Exhibit B (Free Compliance Resources); and additional Exhibits (Sample Forms and Checklists)
• D. Compliance Team Member Training: "What is Compliance" by Tiffany Rhoades (PDF of slides)
• E. Understanding Fiduciary Duties (Excerpts from the forthcoming book, FINANCIAL PLANNERS: FIDUCIARY DUTIES AND COMPLIANCE, by Ron A. Rhoades, JD, CFP®, Chapters 1-9, exploring fiduciary duties, generally, the fiduciary duty of loyalty including disclosures of material facts and conflicts of interest).
• F. Sample Form ADV, Part 2, annotated (Excerpts from the forthcoming book, FINANCIAL PLANNERS: FIDUCIARY DUTIES AND COMPLIANCE, by Ron A. Rhoades, JD, CFP®)
• G. Estimating the Total Fees and Costs of Stock Mutual Funds (2009) by Ron A. Rhoades, JD, CFP®
• H. What are the Specific Fiduciary Duties of Financial Advisors? by Ron A. Rhoades, JD, CFP®, Editor, FiduciaryNow.com (January 1, 2008). A preview of a more detailed set of fiduciary standards of conduct, suggested by this author (but not yet adopted by any organization).
• I. NASAA IA Examination Sweep Results by Patti Struck

Added June 2nd:

• "Joseph's Investment Strategy Due Diligence" - excerpts from a due diligence memorandum prepared for the Investment Committee of Joseph Capital Management, LLC, a fee-only investment adviser.
• "Putting It All Together: Building Effective Compliance Procedures" slides, by Ron A. Rhoades
• "An Overview of Fiduciary Duties" - these slides will not be presented at the Compliance Conference, but are presented as an educational introduction to the fiduciary duties of financial planners and registered investment advisers.