Great article from Michael Kitces...
Product distribution industry beat DoL fiduciary by arguing their brokers aren't actually advisors! https://www.kitces.com/…/dol-fiduciary-5th-circuit-appeals…/ via @MichaelKitces
So it's like those in the transaction based advisory world (banks, insurance companies, brokerage companies, independent firms like Edward Jones) essentially are saying we call our salespersons advisors, but, by definition, they're not actually advisors & they don't give advice, so they don't need to follow this annoying fiduciary rule thing...oh, and if you have any questions or maybe you're a bit confused by this, just ask your advisor!
Great article from Michael Kitces... Product distribution industry beat DoL fiduciary by arguing their brokers aren't actually advisors! https://www.kitces.com/…/dol-fiduciary-5th-circuit-appeals…/ via @MichaelKitces
0 Comments
Your comment will be posted after it is approved.
Leave a Reply. |
connectauthorMichael Pensinger, CFP® is Owner and President of Pensinger Financial, Inc.
He grew up in Park Forest, Illinois and now resides in Lemont, Illinois with his wife, two children, and two dogs. Michael is actively involved in his community; coaching kids' sports, having served as Treasurer for the Lemont Area Chamber of Commerce Board of Directors, sitting on the Board of Directors for Hope & Friendship Foundation, and volunteering for the Lemont Heritage Woodland Sanctuary Open Space Committee. Read More Archives
January 2021
Categories
All
|
CONTACT
Lemont, Illinois 60439 630-754-7580 Phone 630-590-9392 Fax |