FYI: You may have known of it as the “Fiduciary” Rule, but the technical name for the Department of Labor’s attempt to discourage conflicted fees was the “Conflict of Interest” Rule.
“Fiduciary” received all the press, and that’s too bad. Most folks can’t tell the difference between a fiduciary and a hole in the wall.
Now, “conflict of interest”? That’s a whole ’nother kettle of fish. The phrase explains itself. It’s difficult to miss its meaning. The only questions are “Whose interests are conflicted?” and “Under what conditions does a conflict exist?”
That’s what the Department of Labor tried to define. It’s a pretty big deal in the financial world. Some studies suggest conflict of interest fees cost retirement investors $1 billion a month. While the court vacated the DOL’s Conflict of Interest Rule, investors don’t have to worry. They can still look out for themselves.
Here’s how.
Regards,
Ted
https://www.forbes.com/sites/chriscarosa/2019/05/07/how-to-find-conflict-of-interest-fees-in-a-mutual-fund-prospectus/?ss=etfs-mutualfunds#7cc0fd7ac65f
