Trone:Why Advocates Are All Wet When It ComesTo Proposed Fiduciary Rule

3ethos CEO Don Trone wrote an article on the the problems with the DOL's proposed fiduciary rule when it comes to better outcomes for clients.

The president’s remarks on this Monday about the DOL’s fiduciary rules singled out great advisors who are doing the right thing for their clients. He then changed his tenor and talked about advisors who are “selling snake oil.”

As I considered the president’s remarks, it occurred to me that there are two faces to a fiduciary standard — positive and punitive — and it’s critical that the industry be able to distinguish between the two.

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#dontrone #fiduciary

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