Will fiduciary wave follow Democrat statehouse victories?
Financial PlanningNovember 07, 2018
After a strong electoral showing for Democrats, more states could move forward with proposals for tougher regulation of advisors. But any rollout of new fiduciary proposals will more likely be a trickle rather than a torrent.
"I think any potential tsunami wave of state fiduciary legislation crashed election night when the Democrats failed to meet some of their more aggressive goals," says Duane Thompson, senior policy analyst at fi360, a fiduciary training firm. "No question it was a good night for the party, but while Democrats won a number of governorships and full control of several state legislatures Tuesday night, I don't think it is enough to cause a tidal wave of state fiduciary legislation next year."
