August 24, 2010
I have a very strong committment to the idea that all financial practitioneers, advisors, brokers and planners should uphold a fiducary standard.
I don't understand the groups against fiducary duty. Shouldn't we all up hold ourselves to the highest standard of care for the client not just the position that will have the least regulation or the least possiblilty that I will be sued? What are these people thinking?
If your clients come first, why would you ever take a stand against being a fiducary?
The Rand study proves the general public cannot differenciate between a financial advisor and a financial planner. The rules should reflect the public preception that there are no differences. The rules should include also insurance agents. The general public has little or no differentation between them and a fiancial advisor and financial planner.