Guest Columnist Ron Rhoades

It is my opinion that when the suitability standard goes the way of the buggy whip it will be the authentic fiduciaries who miss the carriage rides the most.

I don’t see Ron Rhoades and Don Trone as having conflicting opinions. Don is just worried about execution and so is Ron. The devil is always in the details. It is wise to keep vigilant. Glad they both are watching this carefully.

SCW

Financial advice has a fiduciary standard of care. Sales recommendations have a suitability standard of care. It is a differentiating characteristic that separates real advisors and salesmen. Not one investor in a thousand knows this difference exists. Wall Street has done a masterful job blurring the distinctions. It is up to the RIAs and IARs to create value for a relationship that is based on fiduciary principles. Investors may be better-off in the future, but advisors will lose an important differentiating characteristic.

Ron, though I appreciate your commentary, I can’t help to think about the infamous words of Nancy Pelosi “You first have to pass it before you can see what is in it”. I would like to suggest that if we have not learn by now… I am very surprise that you are willing to “wait and see…” please revisit the multiple video clips about Jonathan Gruber.

Why I disagree with Don Trone's characterization of Obama's fiduciary stance as 'punitive'

Ron Rhoades: Don’s view reflects a misunderstanding of the breadth of the fiduciary principle.

Ron Rhoades

Don Trone

The past two years have been some of the most momentous in the relatively short history of the RIA profession. Legislators and regulators have been gradually embracing the fiduciary standard, though whether it will fully apply to everyone calling themselves advisors remains to be seen.

The Department of Labor’s crusade to lower costs and increase transparency in retirement plans means a spate of new regulations affecting advisors and brokers in that market. Dodd-Frank Financial Reform, meanwhile, continues to unroll across the profession, with the biggest change being a shift to state oversight of RIAs with less than $100 million AUM. In this section, you’ll find continually updated RIABiz.com coverage on all these topics.

RIA Compliance

The essential component of fiduciary duty -- loyalty -- is what separates the advisor from the salesperson, according to fellow fiduciary advocate Ron Rhoades

Why I disagree with Don Trone's characterization of Obama's fiduciary stance as 'punitive'

Grant Barger

Stephen Winks

A. Fabian Garces-A

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