Faegre Drinker Biddle & Reath LLP, a Delaware limited liability partnership | This website contains attorney advertising.
September 11, 2018

Fred Reish Quoted in Fiduciary News on the Future of the Fiduciary Standard

Los Angeles partner Fred Reish was quoted in a Fiduciary News article titled “What Will the Fiduciary Standard Look Like in Five Years?” The article discusses the possible future of the fiduciary standard in light of the now-vacated DOL fiduciary rule.

“[P]eople who work on financial services, such as broker-dealers and investment advisers, have the advantage of ‘information disparity.’” Fred said. “In other words, they have so much information about investments and financial services that investors need to rely heavily on their recommendations. As a result, those advisors necessarily hold a position of trust and confidence relative to investors, including fiduciaries of small retirement plans and participants in retirement plans. ‘Trust and confidence’ is, in a sense, the definition of ‘fiduciary.’ Because of that, my ‘fiduciary hope’ for five years from now is that advisors in the financial services world will be held to a standard that investors can justifiably place their trust and confidence in those advisors.”

Read “What Will the Fiduciary Standard Look Like in Five Years?

Full Article

Related Legal Services

The Faegre Drinker Biddle & Reath LLP website uses cookies to make your browsing experience as useful as possible. In order to have the full site experience, keep cookies enabled on your web browser. By browsing our site with cookies enabled, you are agreeing to their use. Review Faegre Drinker Biddle & Reath LLP's cookies information for more details.