Deconstructing One Broker’s Take on a Fiduciary Standard
A broker responds to my March column for investment Advisor on the fiduciary standard and makes some good points. And some not-so-good points.
The Case Against Fee Disclosure: Good Idea; Bad Timing
Should RIAs increase fee disclosures to clients? It's a good idea, but considering the brokerage industry's marketing expertise, now may not be the right time.
Do Financial Advisors Need to Be Economists?
In their book “Big Picture Economics,” Joel Naroff and Ron Scherer tell the story of Greg Parker, who took the convenience store his father built and parlayed it into the Parker Companies.
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.