OA50: Obama's Fiduciary Rule (With Guest Ben Offit)

Opening Arguments

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4.3 • 3.7K Ratings

🗓️ 10 March 2017

⏱️ 69 minutes

🔗️ Recording | iTunes | RSS

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Summary

In today's episode, we take a look at a rule first proposed by President Obama's Department of Labor in 2016 that would require financial advisers to abide by a "fiduciary" duty with their clients. What does that mean? Listen and find out! We begin with a relevant note about the status of the rule, which is due to be implemented in 60 days. Next, in our main segment, we take a look at the implications of the Fiduciary Rule by consulting an expert; in this case, certified financial planner Ben Offit, CFP® who has a somewhat novel take on this enhanced obligation. He breaks down what the proposed rule means for you and the financial professionals you might hire. After the main segment, we turn to a petition that has been garnering significant attention on the Internet: #ReVote2017. What is it? Is it really pending before the Supreme Court, and what does that mean? Finally, we end with a brand new Thomas Takes the Bar Exam question #14 regarding the tort of the intentional infliction of emotional distress. Remember that TTTBE issues a new question every Friday, followed by the answer on next Tuesday's show. Don't forget to play along by following our Twitter feed (@Openargs) and/or our Facebook Page and quoting the Tweet or Facebook Post that announces this episode along with your guess and reason(s)! Show Notes & Links

To find out more about Ben Offit, CFP® and his services, you can visit his firm, Clear Path Advisory, or email Ben at ben@clearpathadvisory.com.
This is the announcement that the Fiduciary Rule has been postponed for 60 days.
You can also check out the text of the Fiduciary Rule itself.
This is the hilarious petition for writ of mandamus filed by the #ReVote 2017 petitioners.
And this is the docket entry for their petition, which is currently pending before the Court and will be denied on March 17, 2017, one week from today.

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Transcript

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1:15.2	Welcome to Opening Arguments, the podcast that pairs an inquisitive interviewer with
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