The uniform fiduciary standard has become a holy grail of sorts for the financial advisor industry.
Legends such as John Bogle tout how its the only way to ensure that the interests of average investors will be protected. Proponents of the single standard stress that the current dichotomy between the fiduciary standard applicable to registered investment advisors and the suitability standard utilized by registered representatives is confusing to investors who fail to appreciate that certain advisors are not "acting in their interest." Only with a uniform fiduciary standard, they say, will investors be safe from the current misleading bifurcated regime.
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