Brian Boyle Jersey , the suitability standard or some hybrid of both. Everyone from the White House to every oversight organization, every financial magazine, newspaper and every financial advisor or industry expert, famous and not so famous, have expressed their opinion on this passionate subject. Ironically, the only groups we havent heard from are the big brokerdealers.
Now this Investment Advisor is throwing his hat into the ring, offering his opinion from a philosophicalmoral point of view. The industry is at a crossroads; do we have the ethical fortitude to treat our clients with the same high regard that other industries do?
Lets review; The Fiduciary Standard requires that the advisor put their clients interests ahead of their own, their firm, commission, or product. An RIA or Registered Investment Advisor must follow this standard the Trust standard, the highest known in law, and fulfill critical fiduciary duties of trust and confidence and must provide its best advice.
In contrast, The Suitability Standard does not require a Financial Advisor to place the interests of its clients ahead of its own, Financial Advisor can sell it to them while ignoring the Know your client rule. This means that a Financial Advisor can make recommendations and sell products based on which ones pay the highest commission.
Unfortunately Braydon Coburn Jersey , most clients and the public at large dont have a clue that standards exist, let real estate Ben Bishop Jersey