By Knut A. Rostad — Maryland, Nevada and New Jersey and other states have an historic opportunity to make an extraordinary difference: to lead the nation towards a real fiduciary standard. Investors, like Gail from Maryland, can only hope they do.
In this podcast, Robert Huebscher of Advisor Perspectives interviews Knut A. Rostad about the outlook for fiduciary matters in 2019.
Last week two RIA leaders made important remarks illustrating the public’s distrust of financial services.
The case for a real fiduciary standard is a case for the values and principles that are vital, self-evident and indisputable – like the values that inspired our nation’s founders. And that the country heard last month in eulogies for George H. W. Bush.
If passed, the SEC’s 125,993-word proposed Reg Best Interest (“Reg BI”) will harm investors and greatly change the competitive landscape for brokers and advisors.
Putting choice ahead of professional conduct, the RBI buffet embraces the junk food Mr. Cohn champions.