What Will the Fiduciary Standard Look Like in Five Years?
Fiduciary NewsSeptember 11, 2018
Phyllis Borzi is the former Assistant Secretary for Employee Benefits Security of the United States Department of Labor. As the official in charge of the Employee Benefits Security Administration in the Obama administration, she helped draft the now vacated DOL Fiduciary Rule. When asked to consider where the industry and regulators will be on the fiduciary issue, you can understand her pessimism “Where I think we’ll be on a fiduciary standard in 5 years is sadly in a worse place than we are today,” she says. “I hope I am wrong.” For her complete answer, including the specific reasons why she feels we’ll be worse off, read “Why Phyllis Borzi is Now Pessimistic On the Plight of a Uniform Fiduciary Standard,” FiduciaryNews.com, September 12, 2018.
It’s complicated. It’ll only get more complicated in the future.
