When the SEC recommended last January that brokers and investment advisors operate under a uniform fiduciary standard of care when dealing with clients, the decision seemed to validate, at last, what many industry groups and fiduciary advocates had been saying for years.

But the move does not mean their work is over, at least not for Knut Rostad, the regulatory and compliance officer at Rembert Pendleton Jackson, a Falls Church, Va., wealth management firm. Rostad is president of the new Institute for the Fiduciary Standard, created with six other industry colleagues in August.

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