The recent announcement of impeachment proceedings reminds us of the importance of fiduciary principles.
The Wall Street Journal reported that the CFP Board’s LetsMakeAPlan.org website excluded a lot of negative information about CFPs.
Last week Michael Kitces wrote that the fiduciary standard is no longer a viable way for RIAs to differentiate themselves from brokers, in light of Reg BI.
Do these groups, as SEC Chairman Clayton suggests, have a “lack of understanding” of the law?
July 4 reminds us of how the American experiment started. That stands in startling contrast to the SEC’s experimental standards.
According to Reg BI, retail investors do not understand “fiduciary.” The lesson: Get comfortable in ‘One size fits all.’