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.
Tag "Skip Schweiss"
Be careful what you wish for because sometimes the cure can be worse than the disease.
Schweiss says forcing brokers to abide by a fiduciary standard probably is ânot a good strategy any moreâ and the government is no longer a viable part of the fiduciary solution.
The SEC is asking âhow do we constrain fiduciaryâ instead of the other way around.
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Fiduciary suit, a fee Gotcha! and an indexing Oops!