What is it about?
Many investors assume their financial adviser is required to put their interests first. But not all advisers have a fiduciary duty toward their clients while others do. There is a debate going on in Washington D.C. about policies which, if implemented, would require financial advisers who offer advice on retirement assets to be fiduciaries. The article discusses the pros and cons and offers a suggested way forward.
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Why is it important?
The debate about fiduciary duty of financial advisers has been raging since 2010 in the wake of the global financial crisis. This article is particularly timely inasmuch as a decision, which will effect nearly all American investors, is expected to be made by policy makers in early 2016.
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This page is a summary of: Advisers and the Fiduciary Duty Debate, Business and Society Review, December 2015, Wiley,
DOI: 10.1111/basr.12073.
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