Regulating Conflicted Advice: Is The Rulemaking Process Working?

Blaine Aikin, AIFA®, CFP®, CFA®, Executive Chairman, Fi360

Duane Thompson, AIFA®, Senior Policy Analyst, Fi360

October 22, 2019

In recent years an increasing number of academic studies have fueled the debate over the cost to investors of conflicted investment advice.  In proposing new rules, federal regulators are required to assess the costs and benefits of their proposals.  In addition to in-house analyses, agency economists also rely heavily on academic research to advance new rules.  So what is the true cost of conflicted advice?  There are no simple answers.  Fi360 Executive Chairman Blaine Aikin, AIFA®, CFA, CFP® and Senior Policy Analyst Duane Thompson, AIFA®, take on the task of reviewing the most recent academic research and the SEC’s own cost-benefit analysis of Regulation Best Interest for clues.  They then assess whether the facts are likely to matter to investors, regulators and the courts. Join us as we review the evidence and assess the implications of the costs of conflicts.

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