WASHINGTON -- If John Bogle were writing the rules, not only would broker-dealers be considered fiduciaries, but to fulfill those obligations there would be a lot less trading activity.

Bogle, the founder of fund giant Vanguard Group, argues that the financial services sector as a whole is chasing short-term gains and in the process saddling investors with the costs of higher trading volumes and often not acting in their best interests.

Register or login for access to this item and much more

All On Wall Street content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access