July 30, 2010
I have been in the insurance and financial services industry for 32 years, and have always been subject to self regulatory organizations such as the CFP Board and state insurance regulators and FINRA. In this business I consider continuing education primary for keeping current. The CFP organization has instituted the fiduciary standard already. It is my belief that the customer is always treated with dignity and respect, otherwise the customer would not do business with us.
I believe that a suitability standard for product selection is the right way to proceed. When a customer understands why something is suitable, they will make their choice based on the analysis provided by the professional agent.
I ask you to vote for SUITABILITY STANDARDS, NOT FIDUCIARY STANDARDS.