In this episode of the 9innings Podcast, host Kevin Thompson, founder and CEO of 9i Capital Group, discusses the fiduciary standard with guest Knute Rostad from the Fiduciary Institute. They explore the implications of a new administration potentially deprioritizing this standard, which mandates that financial advisors act in their clients' best interests. The conversation covers the importance of transparency, the evolution of the financial advisory landscape, and the challenges posed by different business models. Both speakers emphasize the need for ongoing education, ethical practices, and constructive dialogue within the financial advisory community to maintain trust and integrity.

Discussion on the New Administration (00:01:27)

Fiduciary Perspective Defined (00:02:25)

Understanding Client Conflicts (00:05:17)

Creating Factions in Financial Advice (00:09:04)

Historical Context of Fiduciary Standards (00:11:42)

The Current State of Financial Advice (00:12:38)

Critique of Fiduciary Marketing (00:15:29)

Higher Standards of Fiduciary Practice (00:19:50)

Importance of Disclosure in Financial Planning (00:20:40)

Broker-Dealer Challenges (00:22:45).

Limitations of Disclosure (00:23:26)

Misleading Standards (00:25:52)

The Role of the CFP Board (00:30:11)

Closing Remarks on the Fiduciary Standard (00:35:21)

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Corrections: Editing by http://SwoleNerdProductions.com