Forget Fiduciary: Real Battle Coming Over Harmonization
SEC "hasn’t been doing its job for a long time," MarketCounsel CEO Brian Hamburger says, and the DOL fiduciary controversy obscures a bigger fight ahead.
Is Fiduciary Sales an Oxymoron?
DOL and SEC need to make the distinction between sales and advice clear—and stop letting anyone other than an RIA call themselves an advisor.
Why the IA 35?
While I’m not a fervent believer in the “Great Man” theory of history, I do believe that individuals make a big difference in the history of the world, of nations and of families.
An SEC Broker Fiduciary Standard May Undermine the ’40 Act
In my March 25 blog on ThinkAdvisor.com, “Will She or Won't She? Mary Jo White and the Broker Fiduciary Standard,” I voiced some concerns about SEC Chairwoman White's recent remarks at SIFMA's Legal and Compliance Seminar in Phoenix pertaining to the SEC's plans to move forward with a fiduciary standard...
Is the DOL’s New Proposal Really a New Broker Standard?
As I make my way through the DOL’s proposed rule changes for brokers, the sentence that keeps running through my mind is: “We’ve been had.”
SEC’s Ability to Deliver True Fiduciary Standard in Doubt: Report
Institute for the Fiduciary Standard says the SEC believes "conflicts are routine and acceptable — not inherently inconsistent with providing objective advice.”
One Step at a Time: An Open Letter to the Institute for the Fiduciary Standard
The Institute for the Fiduciary Standard called for public and industry comment in a January white paper outlining 11 best practices for advisors and brokers who provide advice to clients. What follows is an open comment letter that I sent to the Institute in March
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.
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.
Fiduciary Best Practices: Talking to the Mailman in Kansas City
While our Best Practices are crafted mainly to help investors evaluate financial professionals, they also serve a larger purpose.