August 25, 2010
Please put all financial practitioners under the same Fiduciary Standard.
I think that it is confusing to my clients to hear that their Stock Broker is not bound by the same Fiduciary Standard as I am.
Same goes with their banker, or mortgage person.
Most consumers of financial products assume that their best interests are being looked after FIRST, above the advising individual or firm. This is unfortunately not always true.
I think that having the SEC keep all of us brokers and advisors under the same regulation makes sence to me.