Beyond the Fiduciary Standard

Rick Ferri correctly notes that “there are two levels of fiduciary care. One is a legal standard and the other is a stewardship standard. A legal standard exists in the RIA industry and may soon exist in the brokerage industry. A legal fiduciary will act in the client’s best interest provided these actions are also in the interest of the adviser. The stewardship standard is a higher personal order. This level requires individuality and leadership. It originates from within rather than legislated by law. Read the full article >>