Does Your Broker Know that You Are Supposed to Come First?

February 2, 2011

The New York Time Bucks Blog recently posted a story called  “SEC Staff to Brokers: Clients Should Come First.”  Apparently, there is a debate that folks who call themselves “financial advisors” do not have duties to their clients.  The SEC is having a rule-making session about this topic this year, and it may be that the SEC votes to make stock and insurance brokers have “suitability” obligations.   I promise to discuss suitability in the next couple of days.


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