| Fund Democracy |
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Purpose and Services
This page was last updated on March 20, 2001. Articles about Fund Democracy Keith F. Girard, The Power Elite 25, Investment News (Mar. 19, 2001). Abstract: The Investment News included Mercer Bullard in its inaugural list "of the top 25 movers and shakers in the financial services industry over the past year." The list "highlights individuals for what they've done, not just for their title, position, wealth or longevity in the industry." These individuals "are the activists, visionaries and entrepreneurs who are driving the financial services industry to the next level." They "simply must have effected positive change on their business or industry. In the end, that's the truest test of power, no matter how you define it." Making the Power Elite list is flattering, and Fund Democracy has indeed had quite a run in its first year. But this accolade perhaps reflects more than anything else the absence of competition in FD's field. There simply are no other dedicated mutual fund shareholder advocates. Furthermore, Fund Democracy's is largely derivative. Real change can only be achieved with the leadership of membership organizations interested in improving the financial situation of their members and clients. The real crusaders are those groups that are willing to invest their time and credibility in taking on the fund industry, such as the Financial Planning Association, AFL-CIO, Teamsters, National Association of Investors Corporation, Consumer Federation of America, Consumers Union, Consumer Action, Arizona Consumers Council, Consumer Action, Consumer Federation of California, Consumer Fraud Watch, Consumers Union, Democratic Processes Center, North Carolina Consumers Council, Pennsylvania Citizens Consumer Council, and Virginia Citizens Consumer Council. |