By John Bowman, CFA
This week’s What About Beta column is an excerpt from our open letter to the incoming Biden-Harris Administration. Please read the full letter here.
A hearty congratulations to President-elect Biden and Vice President-Elect Harris.
In your victory speech, you claimed that regardless of our voting preference, you would be a president for all Americans. We appreciate the sentiment of much-needed unity but are writing to implore your administration to place special emphasis on the individual investor. It’s time that the SEC and DOL are empowered and held accountable to strip off their pre-suppositions and party affiliations to elevate retirement security above all else.
As such, we suggest the following three-pronged “Investors First” agenda: properly trained access to alternative beta, ending the ESG fiduciary war, and significant reform, standard setting, and professional maturity in the industry.
Regulatory oversight and influence is a critical ingredient to any industry’s journey to a profession and we need your support. If we can lower the vitriol and turn our attention solely to cultivating a healthy and fair financial ecosystem, investors and their retirement security will be well served.
Please read the full letter here