Insights & News

Stradley Ronon Attorneys Author Law360 article on Fiduciary Liability

October 16, 2015
Press Clippings
Stradley Ronon Partner William E. Mahoney Jr. and Associate Brandon Riley authored "The Embedded Financial Planning Risk - Fiduciary Liability" for Law360. The article dives into issues relating to a ruling made on Sept. 15 by the Pennsylvania Superior Court surrounding a financial planner and his possible fiduciary relationship with purchasers. The article advises on issues that financial planners may face if they do not properly manage customer expectations. 

"Pennsylvania courts have long recognized that a fiduciary relationship may arise between a securities broker and a customer, depending on the circumstances. However, this newest decision upends the long-standing general rule in Pennsylvania that purchasing an insurance policy is an arm’s-length transaction for which the insurer and selling agent owe no independent fiduciary duty, apart from any that may be defined in the policy itself."

To read the entire article, click here (subscription required).
back to top