Industry association responds to proposal from U.S. Dept. of Labor
More than higher proficiency standards are needed
But new standard must be created under U.S. securities laws for several reasons, says CEO of U.S. SRO
CFA Institute planning local events during May
Proposals would require retirement advisors to put their clients’ interests ahead of their own
Report contrasts brokerage firm ad claims with arguments firms make in arbitration proceedings
Investors see their returns reduced by 1% annually as a result of industry conflicts of interest: study
A “best interests” standard may shield senior investors
In response to this rising trend, traditional advisors may be forced to offer ever-greater protection, catapulting them straight toward fiduciary status
Investors have been fundamentally transformed by the financial crisis