John Lefferts' Blog

Monday, July 20, 2009

Finally...a balanced suggestion on reform

Ever since Obama unveiled the Financial Regulatory Reform white paper calling for "harmonizing" B-D and RIA regs to the fiduciary standard, the special interest groups (including the regulators) have been angling and positioning to save their respective turf as is. In fact, the "fee-only" camp has even taken to a "holier than thou" approach just after their primary trade group, NAPFA, had their former president locked up for investment fraud. The link here is the first balanced suggestion I've seen and it makes a fair amount of sense. I'd be curious to hear what you think about it....

What, exactly, does fiduciary really mean? - Investment News

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