Government “Help,” Fiduciary 101 and Investing 101.
Bogle nails it (again), fiduciary changes marketing, and it changes how we view investing, too.
Shotgun compliance, fiduciary naivete, and free markets trump high fees.
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“The SEC systematically failed to enforce for the past two decades, and now the DOL has by necessity forced the issue.”
Without conflict-of-interest fees like 12b-1 fees and revenue sharing, the world becomes a lot simpler for 401k plan sponsors and a lot safer for plan participants.