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Jack Bogle on Advisors

November 6, 2014 By E.J. Smith

EJThere’s a big difference between a broker/advisor and a registered investment advisor. An investment advisor must follow a strict fiduciary standard for his clients, whereas a broker/advisor follows a suitability standard (whatever that means).

According to Vanguard Group founder Jack Bogle, “A fiduciary to me is anybody that handles somebody else’s money, if you’re a broker, you’ve got to be very careful how you handle it,” he says.

If you’re considering working with an advisor, make sure he’s a registered investment advisor because there’s a huge difference between suitability and fiduciary standards.

For more on the difference between fiduciary and suitability requirements, read this.

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E.J. Smith
E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris.

Please get in touch with E.J. at ejsmith@youngresearch.com
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