As federal regulators move ahead with a pair of rulemaking proceedings that could dramatically reshape the financial advisory industry, advocates of broader fiduciary responsibilities are urging advisors to make their voices heard in Washington.

The twin rulemakings at issue come from the Securities and Exchange Commission, which has floated the idea of holding broker-dealers to the same fiduciary standard of care that guides the conduct of investment advisors, and the Department of Labor, which in the coming months is expected to issue a revised proposal for a rule that would extend fiduciary responsibilities to certain retirement plan advisors.

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