Excellent article from Forbes and author John Wasik on the real reason that Wall Street and the insurance industry are fighting so hard to prevent the establish of a universal fiduciary standard. As usual, a battle of the best interests.
http://www.forbes.com/sites/johnwasik/2013/08/23/why-wall-street-insurers-dont-want-fiduciary-duty/
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I am an ERISA/securities attormey, CFP Emeritus, and Accredited Wealth Management Advisor. I am also a former securites compliance director, I provide forensic investment analyses to help 401(k)/403(b) plan sponsors and other investment fiduciaries avoid legal liability exposure and protect their financial well-being. I am the creator of the Active Management Value Ratio metric, which analyzes the cost-efficiency of investments for investment fiduciaries and attorneys.
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