FINSUM + Magnifi: Biden Just Let Trump’s Fiduciary Rule Go Into Effect

(February 2021)

In what comes as a surprise to the entire industry, President Biden’s administration has just let the Trump-era version of the Fiduciary Rule go into effect. Almost everyone in wealth management thought Biden would surely use his administration’s powers to stop the rule’s enactment, but they elected to let it go into effect as of this Tuesday, accompanying the announcement with positive and supportive language. The industry’s reaction was immediate and positive, while consumer advocates were disappointed as they were hoping for a more stringent rule from the Democratic administration.

(Washington)


FINSUM + Magnifi: Frankly, we take this as an incredibly positive sign for the wealth management business. This is a big signal to us that the Biden administration is not going to be as onerous and impractical on the regulatory front as many might have feared.



New call-to-action

Magnifi is changing the way we shop for investments, with the world’s first semantic search engine for finance that helps users discover, compare and buy investment products such as ETFs, mutual funds and stocks. As of February 2021, 200,000+ users with $450+ Billion in Assets Under Influence, has used Magnifi over 1,000,000 times. Try it for yourself today.

 

This blog is sponsored by Magnifi. The information and data are as of the publish date unless otherwise noted and subject to change. This material is provided for informational purposes only and should not be construed as individualized investment advice or an offer or solicitation to buy or sell securities tailored to your needs. This information covers investment and market activity, industry or sector trends, or other broad-based economic or market conditions and should not be construed as investment research or advice. Investors are urged to consult with their financial advisors before buying or selling any securities. Although certain information has been obtained from sources believed to be reliable, we do not guarantee its accuracy, completeness or fairness. Past performance is no guarantee of future results. This content may not be reproduced or distributed to any person in whole or in part without the prior written consent of Magnifi. [As a technology company, Magnifi provides access to tools and will be compensated for providing such access. Magnifi does not provide brokerage or custody services.]

 

Magnifi in Action: Discover "Impact"

Click on any fund in the chart below to dig deeper.

 

 

 

Related Posts

FINSUM + Magnifi: Biden Admin Coming After Gig Economy

May 4, 2021

FINSUM + Magnifi: Big Changes to Reg BI Likely Delayed by SEC

(March 2021)

One big anxiety that has been on every broker’s mind since mid-January is: is the...

FINSUM + Magnifi: How to Capitalize on the US Energy Crisis

(February 2021)

The polar vortex sweeping across the south has left many American’s without ...

FINSUM + Magnifi: Fear rising inflation? Here’s How to Play It

(February 2021)

Inflation concerns are on the rise. The Fed has reacted with large unprecedented...