Podcast: Universal Fiduciary Standard of Care with Pete Swisher & The 401(k) Study Group
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By Pete Swisher
When financial professionals (“advisors”) sell products and services to investors, what duty of care do the advisors owe to the investors? Are the advisors simply salespeople, able to sell whatever products they can to whomever will buy—as most companies in most industries are generally permitted to do? Or are advisors fiduciaries who owe a duty of loyalty and prudence to investors? Or do advisor obligations fall somewhere between those of salespeople and fiduciaries? Could the same advisor be a salesperson for one purpose and a fiduciary for another purpose or situation?
Author
Pete Swisher
Pete Swisher is the author of 401(k) Fiduciary Governance: An Advisor’s Guide, a textbook for the ASPPA Qualified Plan Financial Consultant credential, and serves as Senior Vice President and National Practice Leader for Pentegra, where he can be reached at pete.swisher@pentegra.com.
By Pete Swisher
