Winning the fiduciary “Debate” in 2015 was vital… and insufficient. The future of advice depends on how Fiduciary Duties and “Best Interest” are defined by regulators and advisors. History, law, research and common sense suggest that a stringent definition is necessary.
Debate on Fiduciary Is Over; Battle for ‘Best Interest’ Rages On
Advisors can make a difference in this battle in this new world. They can speak out for fiduciary advice and, as important, against visible faux fiduciary actions and practices.
The Good News for Fiduciary Advice in 2015
Last week’s victory in Congress for the Department of Labor’s Conflict of Interest (COI) Rule is the best news for fiduciary advice since the March 30, 2007 FPA victory over the SEC in the so-called Merrill Lynch Rule.
Proposed DOL Fiduciary Rule a “Band-Aid”
Clark M. Blackman II is the founder of Alpha Wealth Strategies and a member of the Institute’s Best Practices Board. Clark has been a leading voice on fiduciary issues for over 20 years.
Do broker-dealers and independent brokers speak in one voice?
That brokers and BD firms appear to hold such divergent views of core fiduciary requirements may be explained in numerous ways.
Conflicts of Interest and the Duty of Loyalty at the Securities and Exchange Commission
Recently, Securities and Exchange Commission (SEC) Chair Mary Jo White said she supported the SEC moving ahead with a uniform standard for broker-dealers and investment advisers. Knut Rostad’s paper is published here in the September issue of The Investment Lawyer.
