cv4cfa

A couple points to refine here: For soft dollars only the portion that the client gets benefit from should be allocated to their brokerage, I.E. say the firm gets 80% the benefit from the terminal and 20% for client, client only gets charged 20%.
In your aircraft travel reimbursment not allowed, i don’t think that is correct. If the flights are unusual or difficult, I.E. take a charter flight, then hop a prop plain, then parachute into a jungle (ok i went too far on the last part), then they can reimburse you. Also they can pay for accomodations if it is MODEST and NECESSARY. Judgement is required here often.
For your prudent investor rule (new): diversification is not always required if it can be argued that it is prudent not to do so, and a VERY important point that is left out is that there is NO SINGLE INVESTMENT THAT IS TOO RISKY AND MUST BE AVOIDED, because the investment decision is based in the context of implications of the entire portfolio, not the asset as a standalone security.