ThinkAdvisor: Lawmakers and DOL Fiduciary Rule Consequences

3ethos CEO Don Trone was quoted in an article for ThinkAdvisor by Melanie Waddell on the artificial portfolios that will come from fiduciary regulation.

Don Trone, founder and CEO of 3Ethos, argued in his comment that retirement savers “will only have access to ‘Stepford Portfolios.’” As a result of the “increased liability, complexity and costs associated with the [fiduciary] rules, most financial services firms are only going to offer artificial portfolios manufactured in the image of what the Department deems to be acceptable.”

Also, fiduciary expert Trone said that “there are material differences between generally accepted fiduciary best practices, and the fiduciary standard defined” by Labor’s rules.

A link to the ThinkAdvisor complete article is here.


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