August 29, 2010
I managed a small family trust and became familiar with the rules and obligations of those who give investment advice to others and also manage other peoples money.
I think brokers and dealers should be held to a fiduciary standard. They won't like it and they won't make as much money, but the common good (the public) will be better served.
I think if that standard had been in place the financial meltdown may have been mitigated somewhat.