Don Trone spoke to MarketWatch on the increasing possibilities for abuse and conflicts that are coming from regulation.
There is great debate over whether the Labor Department has defined adequately the term fiduciary. Don Trone of Fiduciary Ethos told Retirement Weekly: "Unfortunately, our regulators and self-regulatory organizations have failed to define a uniform standard of care applicable to any investment adviser (broker or fiduciary), which leaves us with an uneven playing field and the potential for abuse and conflicts of interest. The logical compromise to the current scenario is for the Labor Department to publish its own adviser standard of care that must be met by anyone providing advice to participants.: