In my last Fiduciary Corner column, I wrote about the significant benefits that would result if, as a result of regulatory reform, all who provide financial advice — including broker-dealer representatives — are held to the fiduciary standard of care established under current laws.
Some time ago, a reporter asked me a simple yet profound question: “If everyone providing investment advice were held to a fiduciary standard of care, how would things be different than they are today?”
Woodrow Wilson may have been right when he said, "Loyalty means nothing unless it has at its heart the absolute principle of self-sacrifice."
