I Fear the New Financial Adviser Rule Won't Protect You Enough

But you can protect yourself by working with a fee-only adviser with no broker-dealer affiliation.

Any day now, the Department of Labor is expected to issue a proposed regulation that would require all financial advisers to act in the best interest of their clients. The need for this "fiduciary rule" seems frighteningly obvious, and why the government has to force advisers to put clients' interests first is troubling.

Subscribe to Kiplinger’s Personal Finance

Be a smarter, better informed investor.

Save up to 74%
https://cdn.mos.cms.futurecdn.net/hwgJ7osrMtUWhk5koeVme7-200-80.png

Sign up for Kiplinger’s Free E-Newsletters

Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.

Profit and prosper with the best of expert advice - straight to your e-mail.

Sign up
Disclaimer

This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

To continue reading this article
please register for free

This is different from signing in to your print subscription


Why am I seeing this? Find out more here

James M. Sanford
Founder & Portfolio Manager, Sag Harbor Advisors

James M. Sanford, CFA, the Founder and Portfolio Manager of Sag Harbor Advisors, has worked on Wall Street since 1991. Mr. Sanford spent 11 years as a Managing Director at Credit Suisse, marketing credit derivatives and convertible bonds. From 2005 to 2007, Mr. Sanford managed the Hedge Fund Credit Sales team at Credit Suisse within the overall Credit Sales group and was the top U.S. salesperson by revenue in 2007 and 2008. Mr Sanford has a wide-ranging product background, a rarity for RIAs and even most Equities Portfolio Managers.

Phone: 631-740-4498 E-mail: jim@sagharboradvisors.com www.sagharboradvisors.com