"Given Wall Street's huge economic interest in preserving a product sales mode that many see as a dinosaur, from the extinction event of imposition of fiduciary standards, it is very plausible (and likely) that objections to the fiduciary standard are driven mostly by efforts to preserve a flawed, ancient business model which is neither desired by knowledgeable consumers nor favorable to their financial security. Yet, fiduciary advocates cannot ignore that another reason may exist for those who advocate against fiduciary standards. Perhaps some who oppose fiduciary standards believe that government has no role in imposing standards of conduct."

MORE >>