A Fiduciary Standard Is Not Creating Fiduciaries

One of the unintended consequences of fiduciary rule-making is that it will subject advisors, brokers, and planners to a prudent expert standard. Case in point - the CFP Board.

Their fiduciary standard is not be sufficient that a CFP can demonstrate proficiency in a particular financial planning field - such as estate planning. The CFP will have to demonstrate that they're a prudent expert in that particular subject.

#behavioralgovernance #L5 #fiduciary #3ethos #Trone

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