Summary: The most appealing position statements in financial services businesses profess a freedom from conflicts of interest. At the same time, this position may be the most difficult to prove. The Department of Labor's newly released Conflict of Interest rule is poised to raise the bar on the fiduciary standard even higher.
 Advisors themselves, including those who shift from a brokerage to a fee-based model, must check that conflicts are adequately disclosed or resolved and ensure they have an adequate command-and-control structure in place to manage the fiduciary standard under both the SEC and DOL."Mark Tibergien, CEO, Pershing Advisor Solutions |
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