Elf-Spotting, Gaudy Rings, and Fiduciaries

I’ve written about the progress of the new Department of Labor Fiduciary rule many times, here, here, and most recently here…wait, where are you going? Don’t leave yet, I promise this is worth your time because someone more talented than me is speaking on the topic.

I’ve attempted to make an argument about government regulation at least interesting enough for you to get through a short article, but it turns out that John Oliver has put together a significantly more entertaining piece (which is the least surprising thing since the sun rose in the east this morning). I highly encourage you to watch, if for nothing else to understand the title of this post.

After watching, here are my four takeaways:

  1. Take the advice starting at about the 18-minute mark in the video;
  2. Pay attention to the actual credentials of “financial advisors”;
  3. Know that we at TCI have held ourselves to the fiduciary standard since the firm’s inception;
  4. Think twice before you send off that check for elf spotting school.