Wall Street, Insurers, Fiduciary Duty

Why Wall Street, Insurers Don't Want Fiduciary Duty - Forbes: "For individual investors and retirement plan investors, requiring that brokers and advisers all be fiduciaries is a game changer. Fiduciaries have to disclose all investment costs, conflicts of interests and are legally bound to put their clients first. But brokers and the insurance industry hate the idea. It’s a disruptor that would alter their business models and change their bottom lines forever, which is why they are creating massive barricades for the Securities and Exchange Commission and Department of Labor in their efforts to mandate fiduciary rules."

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