FYI: Next week, the Securities and Exchange Commission is expected to approve a rule that will require brokers to act in the best interest of their customers—rather than their own wallets—when offering investment advice.
That’s good, so far as it goes.
It probably won’t go far enough, however. The new rule is also likely to lead many investors to drop their guard, in the misguided belief their brokers now can do no wrong. And it may create a marketing bonanza for brokers and investment advisers.
Regards,
Ted
https://www.wsj.com/articles/a-new-rule-wont-make-your-broker-an-angel-11559313036?mod=searchresults&page=1&pos=1
