"The fiduciary standard of conduct for prudently managing assets or property has a proud heritage in American law. Fiduciary principles were enunciated by American Founders. Washington and Madison were among those who used fiduciary language to describe government officials as the peoples’ agents, guardians or trustees who derive their authority from the consent of the people."
3. Act prudently -- with the care, skill, and judgment of a professional
4. Avoid conflicts of interest
5. Disclose all material facts
6. Control investment expense
Campaign for Investors
The “Best Practices for Financial Advisors” sets out what investors have a right to expect from an advisor. Advisors who are competent and objective and know what it means to serve investors best interests will gladly follow Best Practices. These practices are key to excellent advice.