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A Fiduciary, In Name Only

TedTed
in The Bullpen
FYI: I was selling JPMorgan funds that often had weak performance records, and I was doing it for no other reason than to enrich the firm … I couldn’t call myself objective.” JPM Adviser

Disclosure is a very poor substitute for “best interest.”

According to Barbara Roper of the Consumer Federation of America, investment firms are hoping the SEC will usurp the power of the Department of Labor if the fiduciary rule is redesigned.

There is a great incentive for businesses with a sales/commission model to back the SEC. over the Department of Labor, according to Roper.
Regards,
Ted
http://tonyisola.com/2017/03/a-fiduciary-in-name-only/
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