August 24, 2010
I would like to speak against the fiduciary standard. Within any professional group, typically 80% work to do the best and most appropriate thing for their patients and clients. They will occasionally err, but these are not the people who cause more stringent oversight and regulation. Those who are not striving to be good professionals and are not working in the best interest of their clientle are the ones who cause regulators to want to impose harsher and often unworkable regulations on the 80% who cause no problem at all. Rather than focus on those causing the problems, the fiduciary standard penalizes those who have worked in the best interest of their clients and in the end does nothing to those who have scammed and will continue to scam their clients. Please reconsider the fiduciary standard.
Charley