FirsTrust

Articles, Insights & More

Resource Center
Michael Koenig, CFP, J.M.
Michael Koenig, CFP, J.M.
On the Fiduciary Duty of Loyalty, the Nature of Informed Consent, and the Requirement of Substantive Fairness

On the Fiduciary Duty of Loyalty, the Nature of Informed Consent, and the Requirement of Substantive Fairness

Can a person ever serve two masters? Does a fiduciary investment adviser possess the obligation to avoid, rather than just "properly manage," conflicts of interest? When a conflict of interest exists for a fiduciary, full disclosure of the conflict of interest is required (in a manner designed to ensure client understanding), followed by "informed consent." This begs the question … would the client of a fiduciary investment adviser ever provide consent to a proposed action which would be harmful to the client? This gets to the heart of the fiduciary relationship.

Resource Center
FirsTrust
FirsTrust
The 6% commission on buying or selling a home is gone after Realtors association agrees to seismic settlement

The 6% commission on buying or selling a home is gone after Realtors association agrees to seismic settlement

The 6% commission, a standard in home purchase transactions, is no more. In a sweeping move expected to dramatically reduce the cost of buying and selling a home, the National Association of Realtors announced Friday a settlement with groups of homesellers, agreeing to end landmark antitrust lawsuits by paying $418 million in damages and eliminating rules on commissions.