08.17.18
Will Consumers Understand The SEC's Disclosure Documents?
by: Tracey Longo
The effectiveness of the SEC’s proposed new disclosures is so important to consumer and financial planning groups that they’ve hired their own “plain English” expert to test the SEC’s dense four-page customer relationship summary (Form CRS) proposal to see if it actually helps investors make informed choices about which type of professional best meets their needs. The AARP, Consumer Federation of America and the Financial Planning Coalition have hired Susan Kleimann, founder and president of Kleimann Communications Group, to test the Form CRS to see if investors are able to understand the disclosure and what the key differences are between an advisor’s fiduciary duty and a broker’s best interest standards of care.
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