Over the years the Department of Labor spent developing and then reworking the fiduciary rule, Assistant Secretary Phyllis Borzi and her colleagues regularly received support from a surprising quarter – people who work for some of the companies that most vehemently fought it.”
Err on the side of caution with DOL fiduciary rule, Phyllis Borzi advises
DOL fiduciary champion Phyllis Borzi said her agency will help work through specifics that aren’t covered in the new rule requiring retirement advice to be delivered in a client’s best interest. But firms with questions about particular sales practices that aren’t mentioned in the principles-based regulation should probably err on the side of caution, she said.
Vanguard’s Bogle lauds new fiduciary-duty standard for retirement advice
Vanguard founder John Bogle has come out in support of the new fiduciary-duty requirement governing retirement plans, calling the U.S. Department of Labor regulations the “first step” in a movement he has been advocating for decades.
Institute for Fiduciary Standard Launches ‘Campaign for Investors’
The Institute for the Fiduciary Standard has advocated for a fiduciary standard since Knut Rostad helped found the organization in 2011, but it isn’t about to rest on its laurels now that the Department of Labor has introduced a fiduciary rule.
DOL Will Rely on Consumers, Advisors to Help Enforce Fiduciary Rule: Borzi
‘A federal standard of fiduciary duty … must be applied to every person and every entity that even touches other people’s money,’ Bogle says at investor event
Bogle: “New Fiduciary Rule is Just the Beginning”
John Bogle needs no introduction, although Knut Rostad, Founder and President of the Institute for the Fiduciary Standard provided a glowing one. “Jack,” as he insisted I call him earlier in the evening, didn’t disappoint. Like a daring shot fired across the brow of the growing number of headlines suggesting the Fiduciary Era may be over, he blunted predicted the “new Fiduciary Rule is just the beginning.”
