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The Hidden Provision in the DOL's Proposed Fiduciary Rule
U.S. News & World ReportLink to more items from this source
[Opinion]
May 8, 2015

"The DOL believes advisors who recommend portfolios consisting of low-management-fee index funds, passively managed funds or exchange-traded funds presumptively could be deemed to be acting in a manner consistent with their fiduciary obligation, since these investment options 'present minimal risk of abuse.' The DOL justifies this position by noting it is 'consistent with the prevailing (though by no means universal) view in the academic literature that posits that the optimal investment strategy is often to buy and hold a diversified portfolio of assets calibrated to track the overall performance of financial markets.' "

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