Posted by on Jun 1, 2019 in Articles & Advice, Blog, Columns, Featured |

Image Credit: Alex Nabaum


By Jason Zweig  |  May 31, 2019 10:30 a.m. ET


Next week, the Securities and Exchange Commission is expected to approve a rule that will require brokers to act in the best interest of their customers—rather than their own wallets—when offering investment advice.

That’s good, so far as it goes.

It probably won’t go far enough, however. The new rule is also likely to lead many investors to drop their guard, in the misguided belief their brokers now can do no wrong. And it may create a marketing bonanza for brokers and investment advisers.


To read the rest of the column:


For further reading:


Benjamin Graham, The Intelligent Investor

Jason Zweig, The Devil’s Financial Dictionary

Jason Zweig, Your Money and Your Brain

Jason Zweig, The Little Book of Safe Money


Articles and other resources:

Patrick A. Lach et al., “Brokers or Investment Advisers? The U.S. Public Perception” (Financial Analysts Journal, 2019)

Robert Plaze, “Regulation of Investment Advisers by the U.S. Securities and Exchange Commission” (Proskauer Rose LLP, 2018)

Nicole M. Boyson, “The Worst of Both Worlds? Dual-Registered Investment Advisers” (working paper, 2019)


Read This Extremely Important, Totally Incomprehensible, Completely Convoluted Information About Your Broker!

On Fiduciary Duty

Why Your Financial Adviser Can’t Be Conflict Free

Have I Got a Fund For You! Why Brokers Push Some Investments

Advisers Who Call Themselves Fiduciaries May Not Live Up to It