CEO Jon Stein talks about fiduciary duty of brokers
Our friends over at Free From Broke posted an article this morning written by our CEO, Jon Stein. In the article, Jon argues…
By Alan Norton
|
Published: March 23, 2011
Our friends over at Free From Broke posted an article this morning written by our CEO, Jon Stein.
In the article, Jon argues that stock brokers should be legally required to act as fiduciaries:
We think this is a no-brainer: OF COURSE brokers should act in the best interest of their customers – and they should be legally liable if they do not.
Predictably, brokers are against this common-sense approach. In large part, this is because it would cut into their profits.
Go read the full article and let us know what you think.
Recommended Content
View All Resources
Cash Analysis Methodology
Betterment's cash analysis aims to provide smart feedback when we think you have extra cash that could be earning you more value if it were in a higher yield account.
Acceptable Reasons for Holding Unused Cash in Smart Saver
When you aren't yet sure when or how to spend or invest your unused cash, we offer Smart Saver, a managed account designed to handle your extra cash.
How Banks Fail in Helping You Save Money
You may not realize it, but our financial lives are shaped by a great divide: banking vs. investment managers. In between lies most people’s pinnacle challenge: saving for the future.
Explore your first goal
Safety Net
This is a great place to start—an emergency fund for life's unplanned hiccups. A safety net is a conservative portfolio.
Retirement
Whether it's a long way off or just around the corner, we'll help you save for the retirement you deserve.
General Investing
If you want to invest and build wealth over time, then this is the goal for you. This is an excellent goal type for unknown future needs or money you plan to pass to future generations.
Smart Saver
You could earn 20X more than a typical savings account with our low-risk investing account for your extra cash.