"Taken together, the best practices are a response to what the [Institute for the Fiduciary Standard] describes as pervasive investor confusion about the business models of advisors and broker-dealers, including how they're compensated and what services they offer, a picture that's further muddied by convoluted explanations of fees and expenses. Once the best practices are finalized, the institute will begin work on a verification system where a third party would evaluate an advisor's practice and determine whether to confer the fiduciary designation."  MORE >>