August 30, 2010
I think the answer is quite simple here:
All brokers, financial advisors, and anyone holding themselves out as providing financial advice to public should be required (IN ALL CASES WITH NO EXCEPTIONS) to:
1. Put the interests of their clients first.
2. Disclose ALL compensation received as a result of their relationship with the client. Both direct and indirect compensation.
3. Fully disclose any conflicts of interest, real or potential.