The Cellar - View Single Post

BigV · 04-11-2017, 02:14 AM

Tomorrow I want to talk about the Trump administration's decision to suspend a rule that was to go into effect today raising the standard for financial advisers' obligations to their clients. The standard that would have gone into effect but is now on hold, is called a "fiduciary standard". This means that the adviser has a duty to recommend what is in the best interest of their client. That may, or may not be what is most profitable for the adviser.

How is this in the best interest of the people, or in the best interest of the country?

I've heard some of the rationale behind the opposition to the suspension of the new higher standard, saying it would make doing business more expensive. Ha.

04-11-2017, 02:14 AM	#115
BigV Goon Squad Leader Join Date: Nov 2004 Location: Seattle Posts: 27,063	Tomorrow I want to talk about the Trump administration's decision to suspend a rule that was to go into effect today raising the standard for financial advisers' obligations to their clients. The standard that would have gone into effect but is now on hold, is called a "fiduciary standard". This means that the adviser has a duty to recommend what is in the best interest of their client. That may, or may not be what is most profitable for the adviser. How is this in the best interest of the people, or in the best interest of the country? I've heard some of the rationale behind the opposition to the suspension of the new higher standard, saying it would make doing business more expensive. Ha. __________________ Be Just and Fear Not.