Massachusetts is looking to enforce an industry-wide fiduciary standard within its own borders. Will other states follow?
SEC Investor Roundtables Reveal Investors Often Do Not Understand Form CRS
The SEC’s own Investor Roundtables clearly demonstrate that not even well-educated professionals can understand Form CRS.
Financial Firms’ Steps Toward Fiduciary Are Significant; Are They Enough and Will They Stay Intact?
In 2016 and 2017, the Consumer Federation of America reported in three separate comment letters that 34 financial firms changed their products and/or product offerings to comply with the DOL Fiduciary Rule. They did so against a backdrop of industry criticism that the Rule would be harmful not only to their own business models, but to their customers and clients as well. Some of the very same firms heftily contributed to that backdrop. However, in announcing their new products and offerings, many of these same firms reversed their position on the impact on investors. Now, they believe such changes are overdue, prudent, and beneficial to customers. Why the switch? And will such product improvements survive the recent vacatur of the DOL Rule? Time will tell.
How Mere Presence and Mandatory Waiting Periods Affect Consumer Decisions with Disclosures
By Darren M. Fogarty — The mere presence of an observer, while an individual is reading a disclosure, can impede their ability to make informed decisions, while mandatory waiting periods have a positive effect on consumers’ ability to make informed decisions.
Mark Tibergien, CEO of Pershing Advisor Solutions
In an interview with Barron’s published in the Wall Street Journal on Tuesday, September 19, 2017 by Cheryl Winokur Munk, Tibergien answers a few questions about the future face of the RIA Industry.
