August 23, 2010
Please adopt and enforce a uniform, consumer-friendly, fiduciary standard that ensures that investment advisors, insurance agents, brokers--everyone who gives investment advice--is held to a fiduciary standard. It's what consumers think they are already getting and it's absolutely what they should get.
There is no argument those opposing a universal fiduciary standard can make that justifies a consumer receiving advice that is anything less than IN THEIR BEST INTEREST.
Please adopt and enforce a universal fiduciary standard for all who give investment advice.
Justin Nichols, CFP®
Nichols Financial Advice, LLC