Investment Professionals

Groups Write Letter in Support of Massachusetts Fiduciary Proposal

Washington, D.C. – Sixteen consumer groups wrote in support of a Massachusetts preliminary proposal to hold all financial professionals to a strong fiduciary standard when they provide investment advice and recommendations to retail investors. In their letter, the groups articulated principles that the new standard should be based on in order for Massachusetts’s fiduciary rulemaking to act as a model for other states to follow and to provide badly needed protections for investors who rely on financial professionals for advice.