11 Reasons Why Putting Brokerage Clients’ Interests First Is a Bad Idea
The reasons raised by the brokerage industry against DOL’s fiduciary proposal are good, but out of the goodness of my heart, I offer some more.
The Medium Is the Message, When the Subject Is Investor Protection
The Committee for the Fiduciary Standard suggests mainstream media have an important role in investor protection, but I wonder if the emphasis is misplaced.
Wall Street Finally Blinks in Fiduciary Standoff
The securities industry has done a masterful job of deflecting initiatives to force firms to act in clients' best interest. Is it different this time?
The Institute’s Fiduciary Best Practices: What’s Missing?
Practices proposed by the Institute for the Fiduciary Standard are a great start, but can employee brokers really be expected to be fiduciaries for clients?
A Simple Solution: Let's Call an Advisor an Adviser
Over the past year or so, many advisor industry observers have become disillusioned about the SEC's chances of complying with its Dodd-Frank mandate to create a fiduciary standard for brokers that's “no less stringent” than the 1940 Act.
Is State Regulation the Future of Financial Planning?
Time to rethink national regulation of financial planners in favor of state oversight? Michael Zmistowski of the Florida Council of the FPA makes the argument.
DNA Holds the Key to What Financial Consumers Want
As with Americans' ignorance of many other matters, most “investors” don’t know a fiduciary from a Form ADV. And they don’t want to.
Why Did the CFP Board Hire Camarda Litigator as General Counsel?
The departure from the CFP Board of Michael Shaw and the hiring of Leo Rydzewski as the Board's first general counsel sends some dispiriting messages.
Technology Will Continue to Transform Independent Advice, and Advisors
The history of the independent advice model confirms that technology empowers independent advice. It will continue to do so.
Has the Consumer Media Gotten the Fiduciary Message?
If some recent articles in The New York Times and Forbes are any indication, 2015 might become the year of "fiduciary-only."