DENVER—May 13, 2019—First Ascent Asset Management, a portfolio strategist serving financial advisors, today announced that its founder and CEO, Scott MacKillop, is the recipient of the Investments & Wealth Institute’s 2019 Governance Insight Award. He won the award for his article, The Harmonization Trap: Why Advisors Should Demand Truth-in-Labeling Rather than a Uniform Fiduciary Standard, which appeared in the September/October issue of Investments & Wealth Monitor.
The award honors the author who has “made a significant contribution to advancing the understanding and knowledge of investment and wealth management in the area including contributions to ethics, legal, and regulatory issues that affect these professional practices.” Past recipients of the award include John Bogle, Michael Kitces, Prof. Meir Statman, and Prof. Andrew Lo.
“It is a great honor to receive the Governance Insight Award because of what it stands for and the tradition it represents. It is especially gratifying to receive it for an article that argues for the applicability of a strong fiduciary standard to all those who offer financial advice,” said Scott MacKillop.
Commenting on the award, Knut Rostad, President of the Institute for the Fiduciary Standard, said, “Excellent choice. Scott’s paper hits a key topic that is coming into plain sight as we speak. His theme is on point and his style is crisp and clear.”
“Our firm deeply believes that the future financial well-being of American investors depends upon the continued growth and vibrancy of the fiduciary advisor community,” said Scott MacKillop. “Federal regulators have been unable to provide investors with the fiduciary protection they deserve and some elements within the financial services industry have actively sought to oppose it,” he continued.
“First Ascent will continue to advocate for a universal fiduciary standard applicable to all who give advice. It is important to the financial security of each investor and to the economic health of our country that the strength of the current fiduciary standard be maintained,” said MacKillop.
“We are very grateful to the Investments & Wealth Institute for recognizing our contribution to this important public debate,” continued MacKillop.