DOJ's Fiduciary Rule Is a Win for Individual Investors

|

Ron Carson, founder and CEO of Carson Group, discusses why the Department of Labor’s Fiduciary rule is a win for individual investors.

RON CARSON: And most people say, "My advisor or my broker already [puts my interests ahead of their own interests]." And there's still mass confusion about this.

In a brokerage relationship, believe it or not, the rules of law do not require that they put the client's interests or your interests first, but simply that they disclose that the investment is suitable.

As a fiduciary, and that's what this new fiduciary rule is, is they're required by law to put your interests ahead of their own interests. This is the way our entire financial industry profession should be run and it's not.

Comment
Show commentsHide Comments

Latest Markets Videos

Market Overview
Search Stock Quotes
Video Archives
Partner Videos