Good post here from Fi360 containing tips for fiduciaries. Excerpt:
Acting as his own custodian and avoiding any kind of transparency looks to be a huge part of how he managed to get away with it for so long, but also the most prominent red flag that should preclude an investment fiduciary from choosing this type of investment. Both an ABC News article and a Kiplinger’s column look at how acting as his own custodian should have been the first and clearest sign that something wasn’t right.