December 19, 2010
Based on 40 years of personal experience with and personal and professional exposure to "financial advisors" of various types and descriptions, I feel strongly that ALL financial advisors should be legally classified, and legally resposible, as fiduciaries. I.e., their primary responsibility should be solely to their client(s), not to their employers or themselves. Period. End of story.
John J. Ong , CFA (ret.)