>Stockbrokers’ legal role in giving advice is up in the air

>Stockbrokers’ legal role in giving advice is up in the air | The San Diego Union-Tribune

A recent court ruling was a major win for the “little” guy. No longer will stockbrokers be able to masquerade as Fiduciaries.

There is a major difference between a person who works for a brokerage firm (Merrill Lynch, Smith Barney, Morgan Stanley to name a few) and a person who is a Registered Investment Advisor (RIA) and independent. The major difference is that the Independent RIA is required by law to put their client’s best interest first, employees at brokerage firms are not.

Let me ask you a question – would you want to do business with some who won’t put your best interest first and be a Fiduciary?

The term “Fiduciary” is the “F” word in the brokerage world, its like Kryptonite to Superman.

Make sure your advisor is a Fiduciary.

Scott Dauenhauer, CFP, MSFP, AIF
CFP – Certified Financial Planner
MSFP – Masters of Science in Financial Planning
AIF – Accredited Investment Fiduciary


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