Pope Francis wants financial advisers to work like fiduciaries

May 22, 2018 by Bruce Kelly

Pope Francis weighed in on the debate over the need for a universal fiduciary standard for financial advisers Thursday in a wide critique of global finance that admonished advisers who worked against the best interests of their clients.

Issued by the Vatican, the bulletin took aim at broad targets, such as selfishness in the financial industry, to more specifics points, including credit default swaps, a form of derivative criticized in the past by Warren Buffett.

But the pope scrutinized financial advisers and how they manage the “savings” of their clients.

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Originally Posted at InvestmentNews on May 18 ,2018 by Bruce Kelly.