August 17, 2010
I write in support of a fiduciary standard for providers of investment advice to consumers. It is more important than ever that the investing public have confidence in the advice they are receiving. To permit certain broker-dealers or insurance agents to operate to a lesser standard of care is a disservice to investors.
There are many firms with salespeople who represent themselves as "financial advisors" or "financial consultants" resulting in a confused public that doesn't truly understand the standard under which they are being served.
Please take this opportunity to create clarity for the public by adopting a fiduciary standard that requires the investor's best interest to be placed first above all who give them investment advice.
T. Taylor Payne, CPA/PFS, CFP®
Wealth Manager, President
PAYNE WEALTH PARTNERS, INC.
7144 E. Virginia St.
Evansville, IN 47715