The Institute for the Fiduciary Standard has produced a white paper on best practices that puts an emphasis on addressing “conflicts of interest,” the “reasonableness and transparency of fees and expenses,” and “communications that are clear, complete and truthful.”

The white paper, “Key Principles for Fiduciary Best Practices and An Emerging Profession,” focuses on the principles that should be the basis for best fiduciary practices going forward and how they differ from the principles on which brokerage sales practices are based, the institute said.

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