Fiduciaries Aren’t Free of Conflict, Warns SEC Lawyer

May 21, 2019 by Rita Raagas De Ramos

Investment advisors tend to emphasize to existing and prospective clients how they can be trusted because they are fiduciaries. But the SEC’s assistant chief counsel for sales practices says the fiduciary label isn’t an automatic guarantee.

“The fundamental problem that we’re trying to tackle is how do you provide advice in the face of conflict,” Lourdes Gonzalez, assistant chief counsel for sales practices, a division of the SEC’s trading and markets division, said Thursday at the Finra annual conference in Washington D.C.

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Originally Posted at Financial Advisor IQ on May 17, 2019 by Rita Raagas De Ramos.