This April, the Department of Labor issued its new fiduciary rule, which will require any advisor giving advice to retirement account holders to act in the client’s best interest. It certainly sounds like an obvious improvement, and we’re pleased to see some forward progress on this notion of a more global fiduciary standard. Remember, Hill Investment Group has been acting in the capacity of a fiduciary for our clients since the founding of our firm.

Nevertheless, we’re not all that hopeful to see newly minted fiduciaries taking on the title anywhere near its fullest extent. Their clients may be scratching their heads since surveys indicate that many already thought they had a fiduciary commitment from their advisor. In reality, they’ve been subjected to the suitability standard. It’s is far more common and gives a wide berth to advisors when defining what might be best suited for a particular client (think of high cost, proprietary, commission-based products).

Interested in additional reading on this topic?

• “What New Rules on Retirement Savings Mean for Investors” in The New York Times
• “Fiduciary Rule Better Protects Investor Interests” from Morningstar

The Odds On book launch is right around the corner and we know you’d like to be supportive! You can pre-order your copy on Amazon (or visit 800-CEO-READ to get discounts on multiple copies).

Check out the endorsement from David Booth, Chairman and Co-Chief Executive Office of Dimensional Fund Advisors, that will appear on the book jacket. David rarely provides endorsements, so we’re honored to have him on board.

“Successful investing often comes down to having a strong philosophy you can stick with. In Odds On, Matt Hall shows how more than fifty years of modern finance have provided insight into how financial markets work. Investors who develop and apply a strong philosophy based on these principles can improve their odds of long-term financial success.”

*If you’ve pre-ordered the book but can’t wait any longer, the introduction and first chapter are now available for you to download here.

Watch for future updates coming your way about more incredible endorsements the book has received!

As the year comes to a close, it’s fitting that we take a moment to reflect on recent market lessons. But, you know we’ll never focus on any one year, so let’s consider the four most recent decades from 1975 through 2015. This captures nearly all of the investing lives of our clients. Here’s a summary of data taken at the beginning of each of the 10-year time periods.

TAKEAWAYS