The Rand Corporation and the federal government just dropped a bomb on the financial industry. Their new 228-page Report was released recently. It's titled: Investor and Industry Perspectives on Investment Advisers and Broker-Dealers. It contains some astounding revelations, including this – that clients do not see advisors in the same way advisors see themselves.
Perhaps, the most telling statistic is on page 98. It contains this simple statement about financial professionals: "I trust that this individual acts in my best interest."
Can you guess what percentage of the investing public believe that?
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