... you know, for investment firms, brokerage firms and wire houses. I love how government and the industry actually have to debate whether or not a fiduciary standard could possibly be best for investment clients. It offers good comic relief for this bored, unexciting no law-bending fiduciary when the phone calls are in a lull. I’m terribly sick of the stupidity of the whole thing actually… which it seems the industry and lobbyists are going for as shown in this article by Tara Siegel Bernard of the New York Times, titled “Trusted Adviser or Stock Pusher? Finance Bill May Not Settle It”:
Here is another timely take of it by Sara Hansard at InvestmentNews titled “Brokers may dodge fiduciary requirement, consumer groups say”:
http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20100203/FREE/100209906&ht
Here is my take on it; Individual investors, you are not going to receive outside help on the subject of this debate. Do your research, study what the word fiduciary means, and find those advisers who operate under a fiduciary standard. If you believe the fiduciary role is right for you, change the industry with your vote of money.
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