LPL Financial, the largest independent broker-dealer, announced Monday that it supports the application of a uniform fiduciary standard for financial advisors, as recommended last week by the Securities and Exchange Commission study.
"We welcome the clarity that the January SEC Staff Report brings to the retail financial advice industry,” said Mark Casady, LPL’s chairman and CEO. “ In particular, we agree with the report's recommendation for a uniform fiduciary standard, as we believe this is right for investors, financial advisors and the industry.”
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