"The [the groups, which include the Investment Adviser Association and the Certified Financial Planner Board of Standards,] said that their support for a uniform fiduciary standard is conditioned on a rule that would be 'no less stringent' than the current standard to which advisors are held. A more lax fiduciary rule designed for broker-dealers, if applied as the uniform standard the SEC envisions, could have the perverse effect of lowering the standard of care advisors are currently required to exhibit when providing their retail clients with personalized investment advice."  MORE >>