Advising in an intimate relationship of two differs markedly from offering incidental advice in a sales relationship of three. This is what the SEC needs to know to close the gap and create a standard retail investors would reasonably expect.
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Meet Gail
Gail from Maryland is an accomplished professional with a BS in engineering and finance and an MBA. She also had a terrible experience with a broker who Gail says betrayed her. Meet Gail. Hear her story. Note her courage to come forward.
“Raise Your Voice” Campaign
Adviser Groups to RIAs: Show Your Independence. Explain to the SEC How You’re Different from Brokers
Institute Announces New Appointments
The Institute for the Fiduciary Standard today announced five new appointments. The appointments come as fiduciary duties remain front and center in securities regulation review at the SEC and in the marketplace.
Institute leaders meet with SEC Chairman Jay Clayton June 19, 2018
Institute leaders meet with SEC Chairman Jay Clayton June 19, 2018
Financial Firms’ Step Toward Fiduciary; Are These Steps 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.
