I might not be a lobbyist or a politician, but I do know a little bit about history. I seem to recall a very divisive issue once faced by our government. Before it was ultimately decided, legislators agreed to a series of compromises. These agreements placated both sides of the argument – at least for a while.
The wheels of ideation began churning when I interviewed Harold Evensky last week (see "Exclusive Interview: Harold Evensky says Robo-Advisors 'Roadmap to a Rocky Future'," FiduciaryNews.com, July 22, 2014). He described his "You" test as a way to define whether a fiduciary relationship exists. He wanted that to supersede any title or business model when it comes to triggering a service provider's fiduciary duty.
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