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SEC comments muddy fiduciary standard waters

A heightened fiduciary standard could boost advisors compliance costs, while increasing consumer confidence in their advice, so it's critical that advisors know the rules of the game.

By William H. Byrnes, Robert Bloink | Updated on June 25, 2013

The debate over the fiduciary standard that will become applicable to many financial professionals may be coming to a head as the looming deadline for comments on SEC proposals has motivated some advisors to express disapproval over a perceived weakening of the potential standard.

Because a heightened fiduciary standard could increase advisors’ compliance costs, while simultaneously increasing consumer confidence in the quality of their advice, it is critical that advisors know the rules of the game.

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