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Fiduciary Standard vs. Suitability Standard: The 'Gotcha' That Won't Go Away
The Prudent Investment Adviser Rules Link to more items from this source
[Opinion]
Jan. 9, 2017

"While there are those that try to confuse the issues with regard to fiduciary prudence and/or suitability, ... two simple questions help to clarify the issues for both financial/investment advisers and securities attorneys. [1] Is an investment that has consistently failed to produce a positive incremental return for an investor a prudent investment and/or suitable for any investor, given the opportunity costs it produces relative to comparable investment options? [2] Is an investment whose incremental costs have consistently exceeded the investment's incremental returns a prudent investment and/or suitable for any investor, given the financial losses it produces relative to comparable investment options?"

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