The Prudent Investor Rule After the Financial Crisis

January 16, 2013
The Heckerling Institute

Wiggin and Dana Partner Steven Malech participated in a panel discussion at The Heckerling Institute on Estate Planning, the nation's leading conference for estate planners, including attorneys, trust officers, accountants, insurance advisors, and wealth management professionals. Joined by Susan Porter from Brown Brothers Harriman Trust Company, N.A., Max M. Schanzenbach from Northwestern University School of Law and Robert H. Sitkoff from Harvard Law School, the panel discussed the relevance, if any, of evolving views on portfolio theory, efficient markets, and "behavioral" finance for the Prudent Investor Rule and trust investment practice. The session focused on trustee compliance, both from empirical and advisory perspectives, as well as to liability exposure and planning considerations.