- Best Practices
- Fiduciary September
- Campaign for Investors
The Chairman’s Council is comprised of leading independent advisory firms. The firms manage or advise on $27.9 billion in client assets. The Council formed to advise on and advocate for the Institute’s Best Practices.
“The authors of the Investment Advisers Act of 1940 stressed holding advisers to principles that set the highest standard. The Institute’s Best Practices have been crafted in this spirit. They offer investors guidance in identifying advisors who follow these time-honored principles. The Institute is grateful for Council members’ leadership and, like those who crafted the Advisers Act, their dedication to the ideals of disinterested advice,” notes Michael Zeuner, Institute Founder & Board Member.
Chairman’s Council Members
Cheryl R. Holland, CFP
President and Founder
Abacus Planning Group, Inc.
Cheryl R. Holland, CFP ® is President and Founder of Abacus Planning Group, Inc., a financial advisory and investment counsel firm. Ms. Holland is a member of the Bryn Mawr College Board of Trustees, the American Bible Society Board of Trustees and the Clemson University Foundation.
Abacus is a holistic wealth management firm managing over $950 million on behalf of its 190 clients. Abacus consists of a team of multi-disciplinary experts, including Certified Financial Planners, attorneys, CPAs, and Chartered Financial Analysts, who work collaboratively to serve its clients in making smart financial decisions. Abacus is the recipient of the Charles Schwab Pacesetter IMPACT Award® for Innovation and Accelerated Growth.
Michael Warszawski, CFA
Senior Managing Director
Manchester Capital Management
Michael leads the New York office for Manchester Capital Management. He provides wealth and legacy management advice to Manchester clients is a member of the Investment Committee and the Executive Team. He has established or directed several international wealth management businesses. Michael earned a B.S. from MIT and an M.B.A. from Columbia. He is a member of the YJP CEO Forum, and the Young Presidents’ Organization.
Manchester Capital Management is, and has been since its inception, a Family Office dedicated to helping families sustain their wealth, values, and legacy from generation to generation.
Marianne Wilder Young
Market Street Trust Company
Marianne has been with Market Street since 1995 and its President since 1999. Marianne works with the Board on strategic issues and with individuals and family groups to facilitate financial and estate planning. She advises several family foundations. Education: BA Mount Holyoke College; MS Ed University of Rochester; JD Cornell Law School. Marianne is a member of Collaboration for Family Flourishing and serves on the board of Elmira Savings Bank.
Market Street Trust Company is a client-owned, shared family office providing comprehensive wealth management for multiple generations of its founding family, other select client families, and private foundations. Market Street has been stewarding family wealth since 1909 and continues to serve all clients with the same dedication and commitment with which they serve the founding family.
Paul A. Pagnato, CFM
Managing Director, Partner, Founder
Paul A. Pagnato is Managing Director, Partner, and Founder of Pagnato-Karp, a family wealth financial services firm. Mr. Pagnato was honored as a 2015 Top Financial Advisor by the Financial Times, was named by ThinkAdvisor Magazine as a 2013 Advisor Hall of Fame recipient, and is a frequent speaker on Bloomberg Television, Fox Business News, CNBC and BNN. Paul was named to the Board of Directors for the Logistics Training Foundation, and spent 19 years with Merrill Lynch where he founded the Washington, D.C. Private Banking & Investment office.
The Pagnato-Karp Group is a family wealth financial services firm that focuses on meeting the unique needs of the nation’s high-net-worth individuals and their families. Pagnato-Karp oversees $2.5 billion in client assets and is located in Reston, VA. Having provided pure and transparent investment advice for over 20 years, The Pagnato-Karp Group emphasizes a True FiduciaryTM who can help clients control their costs, taxes and market entry points. The firm also offers proprietary solutions including custom stock portfolios and indexes as well as direct private investment opportunities.
Pathstone Federal Street
John LaPann, brings more than 30 years of high-level investment and planning experience to his role as Chairman at Pathstone Federal Street.
Before his role as Chairman of Pathstone Federal Street, John founded legacy firm Federal Street Advisors, where he also served as Chairman.
He serves as a trustee for several individual and charitable trusts and is a member of the investment committee of the Unitarian Universalist Association, the Unitarian Universalist Service Committee and the Judge Baker Children’s Center.
Pathstone Federal Street Advisors provides conflict-free investment consulting and wealth advisory services to a select group of clients, with a particular focus on complex multi-generational families and mission-oriented family foundations and nonprofit organizations. It oversees over $8 billion in client assets. For each client Pathstone Federal Street designs, implements, and manages a unique strategy to meet that client’s specific goals.
Donald Mosby Rembert, CFP®, AIF®
Rembert, Pendleton, Jackson
Donald Mosby Rembert, CFP®, AIF®, is a 1961 Honors Economics graduate of Western Maryland College. He started his practice in 1974 and transformed the firm to “fee-only.” Their guide to practicing high fiduciary standards is The Uniform Prudent Investor’s Act. Don is an outspoken advocate who has written articles that reflect critical fiduciary issues.
Rembert Pendleton Jackson offers a wide range of financial planning and investment advisory services to individual and institutional investors. Their business is built on fostering a meaningful, long-term relationship with clients. Based in Virginia, the firm serves clients in over 35 states. The firm’s founding principal has been serving individual clients since 1974 and non-profit organizations since 1994.
Rob Shapiro is the Chief Executive Officer of Ropes Wealth Advisors, a registered investment adviser affiliate of the global law firm Ropes & Gray LLP. Previously, Rob was a partner in the Private Client Group of Ropes & Gray for over 30 years, focusing his law practice on estate planning, personal and charitable trusts, and philanthropic planning. He brings to the CEO position his extensive experience as a trustee and fiduciary advisor for individuals and families.
Ropes Wealth Advisors seeks to enhance the wealth and legacy of individuals, families and the institutions it serves, offering investment management and financial planning services that are customized and unbiased and seamlessly integrated with a client’s overall wealth management goals and strategies.
WE Family Offices
Michael Zeuner serves as one of three managing partners of WE Family Offices and is a co-founder and board member of the Institute for the Fiduciary Standard. Prior to WE Michael was a senior executive at both GenSpring Family Offices and JPMorgan Private Bank. Michael earned a B.A. from Brandeis University and an M.B.A. from the University of Chicago.
WE Family Offices is an independent, family-focused wealth management firm. The firm addresses the challenges that deeply impact wealth so that families are able to make the critical decisions necessary to manage, preserve and grow their wealth. WE is an independent advisory firm and has no hidden sales agendas or conflicts of interest. As a result, the firm’s advisors offer their clients independent advice and serve as their advocate for the long-term.
- July 19, 2016 — PagnatoKarp Joins Institute for the Fiduciary Standard Chairman’s Council (Press Release)
- January 6, 2016 – Chairman’s Council member Federal Street Advisors merges with Pathstone Family Office to become $6 billion firm in AUM. Industry consultant, Jamie McLaughlin notes the new firm has a partner capital facilitator in Fiduciary Network that allows the firm “to remain militant fiduciaries, whereas (in comparison) an acquisition by a large, public company might be antithetical to their cultural distinctiveness, ethos and brand.” (Article)
- July 9, 2015 – Fiduciary Institute Establishes Chairman’s Council to Advise on Roll-out of Best Practices (Press Release)
Why an InstituteThe rationale for an Institute for the Fiduciary Standard is straightforward: The fiduciary standard is important, representing ideas central to our form of government and free market economy; it is under significant pressures from market forces that could sharply limit its reach; no other entity is solely focused on preserving and promoting the fiduciary standard. More...
The 6 Core Fiduciary Duties
- ‣ Serve the client’s best interest
- ‣ Act in utmost good faith
- ‣ Act prudently -- with the care, skill and judgment of a professional
- ‣ Avoid conflicts of interest
- ‣ Disclose all material facts
- ‣ Control investment expenses