With the new year comes the renewed debate for a universal fiduciary standard that would protect the public by requiring that anyone providing investment advice to the public must put the customer’s financial interests ahead of those of the adviser. Presently, stockbrokers are allowed, some would even argue are required, to put their financial interests and those of their employer, ahead of the customer’s best interests.
In light of the abuses revealed during the bear markets of 2000-2002 and 2008, with investor losses of $6 trillion and $7 trillion respectively, there is a need to protect investors against perceived ongoing abusive practices in the financial services industry. The new white paper, “Battle of the Best Interests: Closing Argument in People v. The Financial Services Industry and Congress,” focuses on the current debate and provides details on the abusive practices so that investors can identify and avoid unnecessary investment losses.
The new white paper can be found by selecting “Closing Argument” in the white paper section of our site at investsense.com.