While most financial advisors believe they are already acting as fiduciaries to their existing clients, they do not always use that to lure new business, according to a new survey by ByAllAccounts Inc.
The national survey was based on responses collected in March from more than 250 financial advisors. Of those respondents, 49% were registered investment advisors, 17% work with an independent broker-dealer and 13% serve as an advisor with a broker-dealer or wirehouse. Survey participants also included institutional asset managers, family offices, registered investment advisor firm employees and others.
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