Summary: The DOL fiduciary rule implementation has been delayed. While consumer advocates applauded the new oversight, very few within the wealth management industry felt the regulation was anything but awkward and clunky. Fewer still believe that nonretirement accounts should have a different, lesser standard of care than retirement accounts.
 The wealth management industry has changed dramatically since the Investment Advisers Act of 1940 was enacted. Let's not treat its details as if it were the Ten Commandments. By the same token, the fiduciary train has left the station and has reached the and has reached the mainstream of public discussion and awareness."Danny Sarch, founder and owner, Leitner Sarch Consultants |
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