Can the Fiduciary Rule Be Saved?

Investopedia
May 29, 2018

The loophole, located in the Employment Retirement Income Security Act (ERISA), allowed personalized advice to be rendered by most broker-dealer and insurance representatives without fiduciary accountability, says Blaine Aikin, executive chairman at Fi360 in Pittsburgh, Pennsylvania: "Investors routinely believed, and were led to believe, that they were getting objective, professional advice when in fact, the advice provider was acting as a sales representative of their employer."

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