June 21, 2013
I am an independent RIA. As a sole practitioner (with two assistants), I operate a small business that would be substantially burdened -- both in time and money -- by the adoption of the Uniform Fiduciary Standard. If adopted, the Uniform Fiduciary Standard would force me to increase my fees without increasing the protection of my clients in any appreciable way. The costs of this proposal far exceed any potential benefits.