"Integrity. Trust. Fiduciary. These words have, throughout history, possessed meaning. As applied to financial and investment advisors, these words define whom advisors might be, the confidence placed in advisors by their clients, and the status as a loyal, candid and honest servant, expert, and steward.... Dilution has occurred to such an extent that the very core of the concepts expressed by these words -- the ability to trust one's advisor -- is eviscerated, leaving nothing but an empty shell. This empty vessel exists today, as a result of the failure to apply and enforce bona fide fiduciary standards under the Investment Advisers Act of 1940 by the [SEC] over the past few decades."

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