Fred Reish Quoted in The Wall Street Journal on New Fiduciary Rule Terminology

Los Angeles partner Fred Reish was quoted in a Wall Street Journal article titled “The ABCs (and T’s and Z’s) of the New Fiduciary Rule.” The DOL’s recent adoption of the fiduciary rule has left advisers with an abundance of terminology and mutual-fund share classes to sort out.

Fred explains that this new rule requires a much broader group of advisers to act as fiduciaries, rather than under the “suitability” standard, which required advisers only to make “suitable” recommendations, and not necessarily to act in the client’s best interest. Fred stated that under the new rule, advisers are likely to give increased consideration to the recommendations they make to clients.

Read “The ABCs (and T’s and Z’s) of the New Fiduciary Rule.”