Subject: File No. 4-606
From: Nathan Pierce, CFP

July 2, 2013

Perhaps a uniform standard is not required.

Why not make the fiduciary standard voluntary, with the requirement that those not choosing to adopt it disclose that they are not fiduciaries and therefore not under any obligation to protect their customer, using that language?

Once the voluntary nature of the standard is decided, involve those parties wanting to be fiduciaries into discussion about the standard itself.