Kitces: The Big Mistake That Led to Massachusetts Fiduciary Rule’s Demise
April 5, 2022 by Melanie Waddell
While the torpedoing of the Massachusetts fiduciary rule by a superior court judge on Wednesday is “tough fiduciary news,” Massachusetts likely “took the wrong approach to begin with” in enforcing its fiduciary rule against trading app Robinhood, popular blogger and advisor Michael Kitces stated Thursday on Twitter.
“Is the way Robinhood promotes stock trading concerning?” he tweeted. “Oh yeah. But is Robinhood giving ADVICE? No. It’s a brokerage app.”
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Originally Posted at ThinkAdvisor on March 31, 2022 by Melanie Waddell.
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