FYI: If you think your job is tough, try simplifying financial disclosures.
A new Securities and Exchange Commission rule requires brokers and financial advisers to describe their services, fees and conflicts of interest in “plain English” and a maximum of four pages.
But, as my dad used to say, nothing is harder than making something look easy. The SEC needed roughly 165,000 words and almost 170 pages in the Federal Register to specify how advisers and brokers should “reduce retail investor confusion.”
The new disclosure, called Form CRS, makes financial information simpler—but not simple enough. Investors don’t just need to learn what to ask, but why the answers matter.
Regards,
Ted
https://www.wsj.com/articles/time-for-advisers-to-speak-to-us-in-plain-english-11571409934?mod=searchresults&page=1&pos=1
