Wednesday, 25 April 2018 08:34

An SEC Fiduciary Rule Primer

Written by
Rate this item
(1 Vote)

(Washington)

Many advisors seem to be confused about the new SEC fiduciary rule proposal, and we can commiserate. While the rule is called a new fiduciary rule, by all accounts, it really is not. While it does compel additional disclosures to clients and efforts to minimize them, it does not try to eliminate conflicts entirely. It has no best interest contract, and no capacity for clients to sue advisors they are unhappy with. It also has no uniform standard for brokers and advisors and maintains the distinction.


FINSUM: This rule is very different than many were expecting. Perhaps its biggest impact will be in reforming and restricting who can use the word broker, which in our opinion does a great deal to make the market more transparent to clients.

Contact Us

Newsletter

Subscribe

Subscribe to our daily newsletter

Top
We use cookies to improve our website. By continuing to use this website, you are giving consent to cookies being used. More details…