Why the Fiduciary Rule is Essential for the Economy

On Feb. 3 Trump also signed a presidential memorandum instructing the Labor secretary to evaluate a specific regulation placed on financial advisers. Known as the fiduciary rule, it requires brokers in charge of retirement plans to act in their clients’ best interest. The rule is set to take effect on April 10, but that may…

Are Fund Managers Asleep at the Wheel? Which Funds Enable Excessive Pay?

Excessive executive compensation is a core contributor to America’s extreme and growing income inequality. CEOs have come to be grossly overpaid, and that overpayment is bad for the companies, the shareholders, the customers, and the other employees. The 100 Most Overpaid CEOs 2017, the third in a series from As You Sow, is designed to…

Inside Wall Street’s War Against the Fiduciary Rule | Money

For years, many brokers have been allowed to push expensive or risky investments, even if there were cheaper alternatives, under what was known as the “suitability standard”: Investment recommendations needed only be “roughly suitable” for the client. In practice, that means if your advisor is weighing two similar investments, and one pays out a greater…

Fiduciary Rule Announced, Challenges Expected

The Department of Labor has published its long-awaited fiduciary rule Labor Secretary Thomas Perez said, With the finalization of this rule, we are putting in place a fundamental principle of consumer protection into the American retirement landscape: A consumer’s best interest must now come before an adviser’s financial interest. This is a huge win for…

Elizabeth Warren Nails GOP Financial Exec

Many thanks to Elizabeth Warren for pushing for a fiduciary standard that would limit self-dealing by money managers like this guy. “We all agree that we must act in a client’s best interests,” Schneider said, before arguing that the Obama rule requiring managers to do just that would ultimately force Primerica to abandon its single-mother…