The ongoing struggle between sales and advice, and what standard should apply, suitability or fiduciary, has been disruptive to many dedicated financial services professionals who, regardless of which standard they are currently being held to, just want to do what is best for their clients. Let brokers be brokers, and insurance agents be insurance agents, and be held to the suitability standard. Let advisors be advisors, and financial planners be financial planners, and be held to the fiduciary standard.
Author: James Pasztor, MSF, MPAS, CFP, is a lecturer at the University of Georgia and former vice president of Academic Affairs at the College for Financial Planning.
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