July 29, 2010
I am in favor of a fiduciary standard for all sales to clients. Putting the clients interest first is what clients already expect and think advisors are doing today.
Has anyone ever thought about polling end clients to hear what they think? I see all kinds of 'industry feedback', what about the end-user that is the one affected most??
From a corporate perspective, training and supervising advisors under one standard will eliminate the confusion that is out there today - the advisor is usually not clear when they have the FINRA hat on or the SEC hat on. In addition, not having to staff and manage 2 platforms is more efficient for the company shareholders.
Make life more simple for everyone - fiduciary standard for all.