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InvestmentNews (commentary); Sep 15, 2016 @ 12:01 am
By John C. Bogle, founder of The Vanguard Group
On April 6, 2016, the U.S. Department of Labor established a federal standard of fiduciary duty that requires investment advisers and brokers who give advice to clients holding retirement plans to place the interests of investors before their own interests. One of the many press reports on the rule headlined its story: “Finally, John Bogle's dream of a fiduciary standard will come true.”