MarketWatch: Is your adviser working in your best interests?

Lisa Hay, CPA, president and founder of Ascend Financial, LLC, shares the benefits of fiduciary financial advice and the most accurate way to tell if the adviser you are considering is acting in your best interest.

Excerpt: Many consumers are beginning to realize the benefit of fee-only fiduciary financial advice, but they don’t know how to tell if the adviser they are considering is actually fee-only. If you are smart enough to realize that working with a fiduciary is very important, and that how your adviser is compensated matters, read on.

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U.S. News & World Report: 4 Ways to Tell If Your Financial Advisor Is Scamming You

Trent Hamm, founder of TheSimpleDollar.com, shares simple steps to distinguish advisers who make your best interest a priority when it comes to planning your financial future.

Excerpt: Most financial advisors provide solid money advice that will help you achieve your goals. They sincerely want you to succeed, make genuine efforts to understand your financial situation and do their best to devise an investing plan for you.

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The Scholarly Financial Planner: Observations: Transforming the Firm from a Sales Culture to a Fiduciary Culture

Ron Rhoades of The Scholarly Financial Planner discusses the signs of an implemented fiduciary culture throughout a firm.

Excerpt: Twice a semester I take a group of students in a 15-passenger van on visits to local financial services firms. My financial planning program (undergraduate) students benefit from exposure to different practice models, learn about “day-in-the-life” of a financial advisor, and some even make connections leading to future internships or jobs. They obtain a real picture of the environments they may join, and upon their return most become more committed to their studies and to joining this emerging profession.

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Financial Planning Coalition to President Obama: Make Investor Protection a Priority in 2014 “Year of Action,”

In advance of the State of the Union address, the Financial Planning Coalition urges the President to make investor protection part of his agenda.

WASHINGTON, D.C. – As President Obama prepares to deliver the State of the Union address, the Financial Planning Coalition – comprising Certified Financial Planner Board of Standards, Inc. (CFP Board), the Financial Planning Association® (FPA®), and the National Association of Personal Financial Advisors (NAPFA) – urges the President to fulfill the promise of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act by making investor protection part of his “year of action for the American people”:

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Think Advisor: Never-Examined Advisors Top SEC’s 2014 Exam Priorities List

Melanie Waddell of Think Advisor reports on the SEC’s examination priorities for 2014, including advisors who have never been examined.

Excerpt: The Securities and Exchange Commission today announced its examination priorities for 2014, which include advisors who have never been examined, including new private fund advisors; wrap fee programs; quantitative trading models; and payments by advisors and funds to entities that distribute mutual funds.

As for broker-dealers, the securities regulator says it will zero in on sales practices and fraud, issues related to the fixed income market, and trading issues, including compliance with the new market access rule.

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The Wall Street Journal: Voices: John Taft, on the State of the Financial Industry Post-Crisis

John Taft of WSJ’s Wealth Adviser discusses fundamental reform issues that remain, particularly when it comes to the ethics and culture of the financial industry, including the fiduciary standard of care.

Excerpt: There are a lot of milestone dates used to mark the failure of the financial system. But the milestone that most affected my clients was the breaking of the buck of the Reserve Primary Fund, the largest money-market fund, on Sept. 16, 2008.

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