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|Can Robo-Advisors Really Be Fiduciaries?|
Dec. 1, 2015
"The 'linchpin' of investment advisor regulation, [said SEC Commissioner Kara Stein], 'is the fiduciary duty' ... But what does a fiduciary duty 'even look like or mean for a robo-advisor?' Stein wondered. 'The idea of a robotic entity that automatically generates investment advice certainly bumps up against what we would traditionally think of as a fiduciary.' Can robo-advisors 'be neatly placed within our existing laws,' she asked, 'or do we need certain tweaks and revisions?' "
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