This week, President Obama made a speech in which he vocally supported the Department of Labor’s new proposed fiduciary rule, which sets new uniform rules to ensure financial advisers always act with their clients’ best interest in mind. The new rules attempt to make the risks and fees of the investing process more transparent to clients.
We think this goes hand-in-hand with the work we do on educating investors and advisors about the risks of not reading (and disclosing) the effects of information in the financial footnotes.