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  • BobC September 2016
Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.

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Vanguard's John Bogle: Ready Or Not, An Expanded Fiduciary Rule Is Coming

TedTed
in Fund Discussions
FYI: On April 6, 2016, the U.S. Department of Labor established a federal standard of fiduciary duty that requires investment advisers and brokers who give advice to clients holding retirement plans to place the interests of investors before their own interests. One of the many press reports on the rule headlined its story: “Finally, John Bogle's dream of a fiduciary standard will come true.”
Regards,
Ted
http://www.investmentnews.com/article/20160915/FREE/160919972?template=printart

Comments

  • BobCBobC
    The dream has not come true yet. The DOL Rule applies only to retirement accounts and does not include personal, joint, trust, and other non-retirement assets. But it is a start, not enough by any means, but enough to cause the banks, insurance companies, and many B/Ds to try to overturn the new rule. Even in the dumbed-down version that was issued, it is wreaking havoc in the commission-sales people.
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