John Dutemple will buy shares of Gerdau SA (GGB) between the open of trading Wednesday, February 25, 2009 and close of trading Friday, February 27, 2009 for a family account.
Completed Trade
200 shares of Harley-Davidson (HOG) were sold from a family account with a market order @ 11.411 Friday, February 20.
Proposed Transaction
200 shares of Harley-Davidson (HOG) to be sold from Dutemple family account the week of February 16.
Pending Trade
To be sold between 2:00 Central 2/12/2009 and end of trading 2/20/2009:
100 shares of Vanguard Financials ETF (VFH)
150 shares of Vanguard REIT Index ETF (VNQ)
100 shares of Vanguard Financials ETF (VFH)
150 shares of Vanguard REIT Index ETF (VNQ)
State Farm Agents Not Fiduciaries
An interesting article from Smart Money - State Farm, none too pleased with changes made to the standards to which their CFP designation holders must now be held, have instructed a few hundred agents who have that designation to abandon it rather than require them to be held to a fiduciary standard when providing advice on insurance.
It is understandable that State Farm would not want their agents to recommend a competitor's product if that were in the client's best interest and this move is an honest revelation that, for insurance sales purposes at least, State Farm wishes the agents to represent State Farm's interests - not the client's. In their defense, State Farm claims an implied fiduciary standard exists in the non-insurance portions of financial planning by their agents.
While no one at Compton Advisors, LLC holds a CFP designation, we support and adhere to the fiduciary standard of placing our clients' interests first in designing a financial plan.
It is understandable that State Farm would not want their agents to recommend a competitor's product if that were in the client's best interest and this move is an honest revelation that, for insurance sales purposes at least, State Farm wishes the agents to represent State Farm's interests - not the client's. In their defense, State Farm claims an implied fiduciary standard exists in the non-insurance portions of financial planning by their agents.
While no one at Compton Advisors, LLC holds a CFP designation, we support and adhere to the fiduciary standard of placing our clients' interests first in designing a financial plan.