Better disclosure a fundamental building block of a single standard of care
Current fragmented standards fail to protect investors
Investors should be protected whether they work with and advisor or broker-dealer
Key recommendations include increased fee transparency, mandating fiduciary duty
The central question: Who is a genuinely qualified financial planner?
Unethical practices exposed by the financial crisis
Public is confused about the distinction between investment advisors and broker-delears
Association asks SEC to provide a clear definition of any uniform standard of care
U.S. regulator to take public comment before adopting rules
House fiduciary standard provides strong investor protection