Late last week, Financial Engines submitted a comment letter to the Securities and Exchange Commission (SEC) regarding the standards of conduct that investment advisors and broker-dealers must follow when they provide investment advice to retail investors.
This issue has potential far-reaching impacts on investors. In our comment letter, we commend the SEC for their inclusive approach as they explore this important area. Financial Engines feels that the SEC needs to be rigorous and hold the financial services and investment advice industry to the highest fiduciary standard.
As the nation’s largest independent registered investment advisor* (and also a fiduciary), Financial Engines strongly believes that Americans deserve high-quality investment advice that is free from product conflict. We will continue to join forces with the SEC, the U.S. Department of Labor, and many others as we work toward a world in which all investors can have access to unconflicted investment advice that promotes their interests and helps them achieve their financial goals.
See below for the full text of our comment letter to the SEC.