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Fiduciary fail: A difference without a distinction

Irony of ironies: Is it possible repealing the DOLs fiduciary rule could benefit fiduciary proponents?

By Chris Carosa | Updated on February 08, 2017
While many may applaud a repeal of the fiduciary rule, repeal may prove to be a Pyrrhic victory. (Photo: iStock)

Perhaps you’ve heard the phrase “a distinction without a difference.” Debaters often fall back on employing this logical fallacy when confronted with an argument they wish to evade. This is the world of euphemism. And it applies to the DOL fiduciary rule. Let me explain.

Politicians and marketers call it “reframing the argument.” People who have read too many books might be tempted to call it “sophistry.” Normal people simply call it “misleading.” We can all agree “a distinction without a difference” is something we want to avoid being accused of using.

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