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The Way Out of the Broker Fiduciary Dilemma: a Professional Regulatory Organization
Bob Veres in Inside Information Link to more items from this source
[Opinion]
July 22, 2013

"If the public knows that a member of the [proposed Professional Regulatory Organization] is a professional and is held to the highest fiduciary standard, then all the mishmash of titles and credentials and consumer confusion about roles and obligations flies out the window. The brokerage firms can call their sales staff 'advisors,' 'planners' or 'demigods' on their business cards, but if they aren't members of this organization, then the public knows that they aren't professionals, just like they know that nurses are not doctors. If they ARE members of this organization, then they are living under rules which forbid them from recommending the house products and slyly recommending high-commission annuities for every financial circumstance."

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