Investor advocates, including the CFA, PIABA, and Ron Rhoades, sent a comment letter in opposition of the DOL’s advice rule.

Why do so many consumers stumble when asked how brokers and fiduciary advisers differ but can recite blindfolded how a butcher and nutritionist differ? Clue: It’s not “investor confusion.”

Institute leaders want the SEC to ensure retail investors understand when they are not working with fiduciaries.

Darren Fogarty, Employee Benefits Advisor at Wincline, describes the differences between brokers and fee-only advisors.

In addition changing Reg BI’s nomenclature, the Institute for the Fiduciary Standard called for many changes by the SEC.

Gensler has developed a reputation as a tough regulator who also was a successful leader on Wall Street.