“That is one of the key weaknesses of the SEC’s Reg BI. It allows brokers to claim they are working in an investor’s best interest without being held to a legal duty of loyalty”
Tag "Phyllis Borzi"
“Surveys show about half of investors don’t know how much they’re paying for advice, and about one in six think they pay nothing.”
“In 5 years, I think investors will be considerably worse off if SEC does go forward with its proposals without substantial change.”
Still, if one has confidence the marketplace will drive the industry towards focusing on the best interests of clients, then a de facto fiduciary standard can emerge organically, without overt reliance on regulators.
For 8 years as Assistant Secretary of EBSA, Phyllis Borzi fought vigorously to protect plan sponsors and retirement savers under the uniform fiduciary umbrella. Here, she answers questions about the past, present and future of the Fiduciary Rule.
Two fiduciary wrongs, a new kind of fee conflict, and crypto-mania’s comeuppance.
State-run suspicions, the funny thing about fees, and investing’s good old days.
Millennial-Centric Retirement Policy, Fiduciary by any other name, and Why the latest Fiduciary Rule fee move shouldn’t surprise you.
The DOL’s Assistant Secretary reveals how she and her staffed learned from initial attempts and why it led to a much stronger Conflict-of-Interest Rule.
FiduciaryNews.com Trending Topics for ERISA Plan Sponsors: Week Ending 11/16/18
Two opposing forces, what does “fiduciary” really mean, and, speaking of conflicts-of-interest.