As there are in life, many stereotypes exist within financial services and they are often misguided and incorrect. It is human nature to label someone or something before meeting them based on very little information we have about them. More often than not, we have done this prematurely and quickly change our opinions.
We have been inundated with conversation recently around the ongoing debate of suitability versus fiduciary care for clients. This debate comes down to the "advisor" against the "broker" and vice versa. FINRA and the SEC. In almost every article and conversation on this topic I conclude that there is a clear lack of understanding of how the "other" is serving their clients.
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