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Steve Coker, CFP
- Apr 30, 2018
- 2 min
An Update on the Fiduciary Rule
In the past, we have written about the Department of Labor’s new fiduciary rule for investment professionals. While the rule was originally scheduled to be implemented by now, it appears to have been tabled indefinitely due to a successful lawsuit led by several industry groups. The Department of Labor has until April 30th to appeal the ruling, and unless there is a successful appeal, the rule may be dead. In summary, the proposed rule imposed a fiduciary standard upon all in
Steve Coker, CFP
- Aug 29, 2016
- 2 min
Big Changes in the Financial Industry: Fiduciary Rule Update
Big changes are coming in the financial services industry. The Department of Labor has finally issued new regulations that will make some of the most significant changes in decades to the way that brokers interact with the American public. These new rules, commonly referred to as the ‘Fiduciary Rule’, expand the universe of advisors that will be held to a “Fiduciary Standard”. We’ve written about the preliminary Department of Labor Fiduciary rules in the past. Here is a
Steve Coker, CFP
- Apr 4, 2016
- 2 min
Can I Trust My Financial Advisor?
Can I trust my financial advisor? It is a legitimate question for an industry that is built on trust. And yet, a recent working paper by business school professors at the University of Chicago and the University of Minnesota found that 7 percent of financial advisors have been disciplined for misconduct ranging from putting clients in unsuitable investments to trading on client accounts without permission. Even more troubling, the report indicated that several well-known f
