Sentences with phrase «fiduciary duty to the client»

It's one of the single most feared (or even loathed) provisions of the Department of Labor's fiduciary rule for a large financial institution, because it dramatically raises the stakes of a potential systemic failure to fulfill the firm's fiduciary duty to clients, outside the relative safety of one - advisor - at - a-time arbitration (especially industry - friendly FINRA arbitration).

Bogle is very concerned about conflicts between an institutional managers» fiduciary duty to her clients and her duty to corporate management.

They were often small partnerships, which meant that the partners had a strong sense of personal responsibility and fiduciary duty to their clients.

This is someone who has a fiduciary duty to their clients (you) and not a company they work for.

Another has been sort of ignored because it doesn't deal with Amazon even though it is yet another example of how some agents are potentially getting into a conflict of interest, or at least a very grey and murky area of fiduciary duty to their clients.

As a registered investment adviser, Bernie Madoff had a fiduciary duty to his clients.

The problem is that H&R Block has a fiduciary duty to its clients that it routinely disregards.

A contingency arrangement was not a true joint venture because the parties are not equal and the lawyer owes a fiduciary duty to the client.

As Justice Newbury points out, lawyer and client are not typical contracting parties and are not equal; among other things, the lawyer owes a fiduciary duty to the client, owes professional duties to the court, takes on most or all of the financial risk, and possesses expertise that the client lacks (para. 92).

To me, these claims suggest that Reed Smith owed a fiduciary duty to its client to explain its fee structure, and to explore whether that fee structure was suitable for a smaller client.

Refunding several hundred thousand dollars may be a costly way to make this case go away, but it seems that cost of litigating it (and divulging its billing records or risking the creation of an explicit and heightened fiduciary duty to clients with respect to fees) are even higher.

The increased «profits duty» they will impose will conflict with a lawyers» fiduciary duty to every client.

Lawyers» professional duties to, social justice, the rule of law, and their fiduciary duties to their clients, should never be sacrificed to the profit duties imposed by the investment market.

Giacalone points out that lawyers owe a fiduciary duty to clients, which at a minimum encompasses advising them on low - cost alternatives.

Unlike plaintiffs» lawyers who take a percentage of recovery as fees, the litigation investors and funders are not regulated, and unlike the lawyer, owe no fiduciary duty to the client.

It is the lawyer that owes the fiduciary duty to the client to be responsible and represent the client's — not the investor's or contributor's — interests.

«I appreciate that lawyers and paralegals owe a fiduciary duty to their clients and yet charge fees for their services,» wrote Aterman.

The brokerage took the position that the agent breached his contractual, statutory and fiduciary duties to its clients and was negligent in handling four transactions which caused it to suffer damages.

Financial advisers in Canada owe a fiduciary duty to their clients to deal fairly, honestly, and in good faith with their clients.

[i] Lawyers» legal labour provided pro bono does involve a fiduciary duty to the client, whereas other alternative legal services don't.

«When the designated agent is comprised of more than one licensee, all of those licensees owe fiduciary duties to the client.

«Remember that as a real estate salesperson, you owe a fiduciary duty to your clients.

Marty, with permission, reprinted this from the Council newsletter: [«-RSB- «When the designated agent is comprised of more than one licensee, all of those licensees owe fiduciary duties to the client.

Ugh, your latest post shows just how fundamentally you fail to understand what it means to owe fiduciary duties to your clients.

Cases in which licensees were found to have breached their fiduciary duty to their clients accounted for two of the six largest damage awards in the report.

Stop that and just do your job which doing your fiduciary duty to the client and getting his home sold.

This business should be about consultation... period, practised by «consultants» (not «salespeople») who do not confuse their fiduciary duties to their clients with how much money they can make if they «make a deal».

The Court of Appeals of Texas ruled, affirming the trial court on a real estate brokerage who purchased a property for its own investment portfolio and sold it for a profit didn't breach its fiduciary duty to a client who also wanted the property.

A real estate brokerage that had purchased a property for its own investment portfolio and later sold it for a profit didn't breach its fiduciary duty to a client who also wanted the property, the Court of Appeals of Texas ruled, affirming the trial court.

What about my fiduciary duty to my client?

However, you have a fiduciary duty to your client — as well as a duty to the other party in the transaction of honest and fair dealing — to understand what you're selling within the scope of your real estate license.

In a dual agency relationship, Rita's fiduciary duties to her clients are much more limited.

Without an agreement, salespeople who identify themselves as buyer's representatives could be held to the highest level of fiduciary duty to the client if they're taken to court.

Wolf was fined $ 74,816 and had his real estate license suspended for seven years, after a RECA hearing panel determined that Wolf breached his fiduciary duties to his clients.

The statute requires that both the buyer and seller consent to the dual agent relationship, and the dual agent owes a fiduciary duty to both clients.

Dual agency relationships don't carry with them all of the traditional fiduciary duties to the clients; instead, dual agents owe limited fiduciary duties.

In a case previously summarized in The Letter of the Law, Oregon's highest court has considered whether a buyer could collect emotional distress damages from a real estate broker for broker's alleged breach of his fiduciary duty to his clients.

A Florida court has considered whether a lower court properly determined that a real estate salesperson breached his fiduciary duty to his clients when he purchased property that his clients claimed they had informed the salesperson they were also interested in purchasing.

A New Jersey appellate court has considered a challenge by a real estate broker to the trial court's decision that the broker breached his fiduciary duty to his clients by misrepresenting the status of property negotiations.

REO agents owe a fiduciary duty to their client, the bank / investor but their actions are not in their clients» best interest.

Real estate agents, on the other hand, are a representative for one of the principals and owe a fiduciary duty to their client.

Broker's fiduciary duty to his client requires the highest good faith and undivided service and loyalty.

Since its adoption in 1913, the Code has promoted time - honored principles that are generally defined as: Loyalty to clients Fiduciary duty to clients Cooperation with competitors Truthfulness in statements and advertising and non-interference in exclusive relationships that other Realtors ® have with their clients.

First, the agent must be guided by her fiduciary duty to her client, as expressed by Article 1 of the Code: «When representing a buyer, seller, landlord, tenant, or other client as an agent, REALTORS ® pledge themselves to protect and promote the interests of their client.»

Fiduciary duties to a client never include obligations that could expose you to accusations of violating fair housing law.

If you're the buyer's agent, you have a fiduciary duty to your client not only to look for official notifications that the documents have been sent to your client but also to review what was received to be sure that all required information was delivered.

New York licensees owe a fiduciary duty to their clients, and licensees forfeit their commission if they breach their fiduciary duty.

Therefore, the court concluded that the Broker did not act as a dual agent and so didn't breach her fiduciary duty to her clients, entitling the Brokerage to its commission.

«A realtor has a fiduciary duty to the client, and so it's crazy not to use an agent because you end up making back that money you think you'd save all the time,» Overbeck says.

Not exact matches

Essentially, they want to see that all these materials adequately and accurately reflect the operations of the firm; that the advisor is meeting his or her fiduciary duty by ensuring that the activities being undertaken in client portfolios are, at all times, in the client's best interests; and that the firm is supervising the activities of its staff and taking corrective actions when and if any deficiencies are found.