In a perfect world, all investors with qualified retirement accounts would have unfettered access to reasonably compensated fiduciary advisors offering non-conflicted advice on all investment options available in the market today.
And no one would get sued.
“That would be the best imaginable outcome,” says Michael Wong, a senior equity analyst for Morningstar Research Services. “The best circumstance would be the fiduciary rule goes through, everyone uses the BIC (best interest contract exemption), and there are no class action lawsuits.”
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
