THE ANATOMY OF A BREACHED DUTY
Of Failure to Diversify by Reasonably Reducing Uncompensated Risk
By J. Ben Vernazza CPA/PFS TEP emeritus & Stewart Frank CPA/PFS AIFA
Presented To The Professional Fiduciary Association of California
Sonoma County California – September 7, 2018
(based on article AICPA June 2017 Tax Adviser www.precisionfiduciary.com/orphan/)

You will learn that by not reasonably reducing Uncompensated Risk (UCR) you are missing out on increased portfolio returns and in the process are breaching your fiduciary duties. The benefits can be quite significant attributable to an ability to sort out the maze of calculations necessary to unravel, identify and replace assets in portfolios to reduce UCR. We find that 90% of advisers are not in compliance, not enjoying sizable return increases, and remain in breach.   Nine (9) case studies are presented at the workshop.  We are Portfolio Consultants and this is what we do – reduce UCR!

“Through Investment Policy Statements (IPS) and implementation of their resulting asset allocation, a portfolio’s compensated (systematic) risk strategies are usually well managed, while the management of uncompensated risk is usually ignored.  But, not any more as this presentation shows through examples of actual cases in both the private and public arenas.  Download it now and apply its principles in order to be in compliance with the law while simultaneously increasing returns and reducing volatility.” 

Download pdf: PRESENTATIONILLUSTRATIONS3