Personal Finance Advice and Commentary

Thursday, February 28, 2013 5:54 pm
By Sheyna Steiner · Bankrate.com

A study this week shows 29 percent of investors think advice is free, and 31 percent aren’t sure how their adviser is paid.

Friday, February 03, 2012 8:00 am
By Sheyna Steiner · Bankrate.com

In mid-January, the SEC requested comments from the public on financial literacy and investor disclosure issues. The Dodd-Frank Act mandated that the SEC conduct this study to identify investors’ levels of financial literacy and come up with ways of improving disclosure materials pertaining to investment products, services and providers. They also must identify the most

Thursday, July 28, 2011 9:00 am
By Sheyna Steiner · Bankrate.com

A year after the Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law, the Securities and Exchange Commission has plowed through many of the studies that the act required and has proposed or adopted rules for the 90 provisions requiring them, the SEC website reports. One of those provisions empowered the SEC

Monday, January 24, 2011 5:02 pm
By Sheyna Steiner · Bankrate.com

Last summer, the Securities and Exchange Commission was empowered by the Dodd-Frank Act to study the need for a higher standard of care when giving financial advice to investors. Currently only registered investment advisors are held to the most stringent standards, known as the fiduciary standard. They must work in the client’s best interest and

Monday, January 24, 2011 9:10 am
By Sheyna Steiner · Bankrate.com

On Friday, the Securities and Exchange Commission delivered their study on the standards of care for providers of investment advice. After six months of study, the SEC recommended a uniform fiduciary standard for broker-dealers and investment advisers “when providing personalized investment advice about securities to retail customers,” the report stated. The study recommended that the

Friday, January 21, 2011 7:00 am
By Sheyna Steiner · Bankrate.com

It’s finally here, the day the Securities and Exchange Commission delivers the fruits of a six-month study on standards of care to Congress along with their recommendations. It will be interesting to see what happens.  On the one hand, some industry groups oppose a strict fiduciary standard and instead feel a disclosure-based standard would suffice