Fiduciary matters are usually left to the trade press. But over the past year, this fairly staid topic has seen its share of time in the spotlight. The crux of the matter is whether or not to adopt the fiduciary standard of care across the board. This means an advisor would be required to put a client's interest above his or her own firm's, even if it means recommending products that generate smaller fees. This is in contrast to the much less stringent suitability standard under which many broker-dealers operate.
For his part, Blaine Aikin isn't quite sure what all the fuss is about. Aikin, president and chief executive officer of Fi360, which trains advisors in fiduciary affairs, believes the fiduciary standard serves clients best-much more so than the suitability or fair-dealing standard can ever hope to.
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