Like any red-blooded American male, I spent this past weekend consuming calories in front of a magnificent 55-inch flat screen of high-definition football. As exciting as the games were, it was a commercial that made my blood boil.
For years now, the camp of fiduciary advocates has been divided into two groups. One believes the road to truth lies through government regulators. The other insists we don't need no stinkin' regulations, we just need an aggressive advertising campaign.
Since most fiduciary advocates are small independent registered investment advisers, none has the marketing budget to compete with the big brokerage houses. As a result, the first camp has held sway for some time.
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