A rules change from Trump means more money for Wall Street on February 13, 2017By attacking the Labor Department’s fiduciary rule, which is set to go into effect in April, the Trump administration has decided to fatten the financial sector at the expense of overall economic growth. In a recent interview, Gary Cohn, the new director of the White House National Economic Council, offered a novel critique of the […]
Financial advice is a thicket of conflicts Wall Street wants to keep it that way on January 2, 2017Financial advisers no longer use telegrams and pneumatic tubes to execute customer orders, but they charge their customers based on an equally outdated and inefficient model: compensation is based on commissions for individual orders. With changes to the market, the law governing financial advisers should also evolve because their roles have changed. The need for […]