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Barry Ritholtz: The Enlightened View On Managing Other People’s Money

FYI: I have long been an advocate for the fiduciary standard for financial advisers. As I’ve noted before, investors who seek advice on managing their assets are entitled to have an adviser put their clients’ interests first. This is the enlightened viewpoint on managing other people’s money.

Still some people insist that “the best interest of the investor” is not in their best interest. My colleague Josh Brown calls this “The Most Horrendous Lie on Wall Street.” I agree.
Regards,
Ted
https://www.washingtonpost.com/business/get-there/the-enlightened-view-on-managing-other-peoples-money/2016/03/18/4f2196a2-ea2f-11e5-b0fd-073d5930a7b7_story.html
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