<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by Cara:
My broker has made a investment with my childrens college fund with out my full approval as well as explaining to me the "HIGH RISK" of this investment. I was told about the "Prudent Man Law" could you please explain the details of this law!!
Thank you for you help!!!!<HR></BLOCKQUOTE>
My response:
Prudent Man Rule [US]
An investment standard. In some U.S. states, the law requires that a fiduciary, such as a trustee, may invest the fund's money only in a list of securities designated by the state the so-called legal list. In other states, the trustee may invest in a security if it is one that would be bought by a prudent man of discretion and intelligence, who is seeking a reasonable income and preservation of capital.
IAAL
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