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‘Visionary’ Bogle Gave SEC a Warning About Reg BI

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“Ideas are a dime a dozen,” Bogle told SEC Chairman Jay Clayton. “Implementation is everything.”

Originally published on ThinkAdvisor, January 17, 2019

By Melanie Waddell 

The founder of Vanguard and creator of the first index mutual fund in 1975, John “Jack” Bogle, who died at his home in Bryn Mawr, Pennsylvania, on Wednesday, also left the Securities and Exchange Commission with advice to mull as it marches ahead with its advice-standards package and the much-debated Regulation Best Interest.

Advisors and industry officials shared their thoughts with ThinkAdvisor Thursday as they remembered the legendary fund icon, saying he “revolutionized” the world of investments and was a “visionary.”

Bogle, 89, was honored six times as one of the most influential people in the advice industry by Investment Advisor Magazine.

Read the full article on ThinkAdvisor

Dan Moisand

 

Dan Moisand is a nationally recognized fiduciary fee-only financial planner, an Institute Real Fiduciary™ Advisor and Chair-elect of the CFP Board.

The Institute has enshrined the ‘Moisand Rule’ on fiduciary practices. It is basic and is more important today than ever: “You have to avoid conflicts. If I avoid a conflict, I don’t worry about it.”

Watch the video of Moisand speaking here.

Bob Veres

 

Bob Veres is a long term observer of financial planning. His Newsletter, “Inside information” Is a staple of leading planners. In the May edition he writes about fiduciary and the Institute.

"But a much bigger point is that the fiduciary standard—as Knut Rostad of the Institute for the Fiduciary Standard has pointed out—has been determined by the Supreme Court (1963 ruling) to be at the very heart of the Investment Advisers Act of 1940. It is the foundation of what it means to be an RIA registered with the SEC instead of a tipster or a tout."

- Bob Veres, Parting Thoughts ... The SEC's Own Compliance Culture