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Bogle: Only the Beginning for Fiduciary Rule

Vanguard founder Jack Bogle thinks the evolution of the investing business toward fiduciary responsibility makes sense from a business as well as an ethical standpoint.

Bogle: Only the Beginning for Fiduciary Rule

Christine Benz: Hi, I'm Christine Benz for Morningstar.com. I recently had the opportunity to sit down with Vanguard founder Jack Bogle. One of the topics we discussed was the fiduciary rule, which is set to go into effect for financial advisors.

The fiduciary standard, you mentioned earlier, let's talk about that. I know that you were involved in getting us to that point where we have some sort of a fiduciary rule in place. In your view, does it go far enough? Do you think a more encompassing fiduciary rule that would cover an investor's whole portfolio, including taxable accounts--do you think something like that would make better sense than where we ended up?

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