Barbara Roper: 'Protections Have Been Under Attack'

The Long View

Morningstar

Finance, Dan Lefkovitz, Amy Arnott, Entrepreneurship, Investing Leaders, Jeff Ptak, Investors, Christine Benz, Influential Investors, Careers, Long-term Investing, Financial Services, Business, Investing, Morningstar

4.5 • 775 Ratings

🗓️ 13 November 2019

⏱️ 51 minutes

🔗️ Recording | iTunes | RSS

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Summary

A leading consumer advocate discusses whether small investors should have access to private markets, fee trends, and how recent financial-advisor regulation falls short.

Transcript

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0:00.0	At Jackson, we've created a digital retirement planning experience with you and mine.
0:05.5	Visit jackson.com to explore our easy-to-understand resources and user-friendly tools
0:10.1	that are designed to enable financial professionals and clients to plan a path to financial freedom.
0:15.5	Jackson is short for Jackson Financial Incorporated, Jackson National Life Insurance Company, Lansing, Michigan,
0:20.5	and Jackson National Life Insurance Company of New York, purchase New York.
0:26.5	Please stay tuned for important disclosure information at the conclusion of this episode.
0:32.5	Hi, I'm Christine Ben's Director of Personal Finance for Morningstar, Inc.
0:36.7	My guest on the podcast today is Barbara Roper.
0:39.8	Barbara is Director of Investor Protection for the Consumer Federation of America, where she has been employed since 1986.
0:46.5	A leading consumer spokesperson on investor protection issues, Barbara has conducted studies of abuses in the financial planning industry, state oversight of investment advisors,
0:56.9	state and federal financial planning regulation, financial planning software, financial education needs of low-income older persons,
1:05.0	the information preferences of mutual fund shareholders, systemic risk regulation, and securities law weaknesses as a cause of the financial
1:12.8	crisis. She has testified frequently before Congress and has supported federal and state legislative
1:18.8	and regulatory initiatives on a broad range of investor protection issues. Barbara is a member of the
1:24.9	SEC's Investor Advisory Committee, FINRA's Investor Issues Group, and the CFP Board's Public Policy Council and Standards Commission.
1:33.9	Barbara, welcome to the Longview.
1:35.6	Thanks for having me.
1:36.6	Thanks so much for being here.
1:38.4	Let's start with sort of a big picture question, which is that you've been very critical of the lack of investor protections
1:45.4	in your work at CFA, but fees keep coming down. So how do you think things are working for
1:51.8	investors today? And where are the biggest gaps in investor protections in your view?
1:57.4	So if you think about the sort of general structure of U.S. securities regulation,
	...

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