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
