Sentences with phrase «fiduciary standard mandated»
The new fiduciary standard mandated by the Department of Labor prohibits advisors from making recommendations that will cause compensation for their services to be more than «reasonable.»
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In his remarks to a standing room crowd at RJFS» national conference, RJFS Chair Dick Averitt is reported to have embraced the fiduciary standard because, in part, of its mandate to serve society at large, as attorneys and medical doctors are obliged to do.
And the fiduciary standard is quite simple: it mandates that a financial advisor holds a duty of loyalty and care to the client, and puts their client's interests above their own.