Don Trone, L5, published an article for Napa-Net.Org about the reason why the DOL's Fiduciary Rule will fail to help investor outcomes and a more prudent approach to serving investor's interests with Neuro-Fiduciary research.
Neuro-Fiduciary is a new industry term that has evolved to represent the use of neuroscience to help amplify, infuse, and improve the quality of a fiduciary’s decision-making process. Of particular importance, its framework can be used to illuminate the process for building client trust and loyalty.
“The U.S. Department of Labor has had a big impact – but not for reasons that you would expect. The DOL’s conflict-of-interest rules don’t define a fiduciary standard, and don’t reflect generally accepted best practices associated with the management of investment decisions. In addition, the DOL and its proponents have conducted a very public, derogatory, and inflammatory campaign against the financial services industry. The net effect is that there is even more confusion about what constitutes a fiduciary standard of care, and considerably more mistrust between investors and our industry.”
Continue to read the entire article, linked here.