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September 1, 2010, Featured Articles, Guest Column

Why We Need The Fiduciary Standard

By Bob Veres   Wed, Sep 01, 2010

It might rid the financial services marketplace of situations where the customer enters into transactions without knowing that there's an adversarial relationship, this well-known columnist believes.

Somehow, the largest financial services organizations in the U.S. marketplace have managed to exempt themselves from the way that most companies do business. Instead of competing on quality, brand and price—as, say, the manufacturer of shoes, groceries, furniture or computers do—they have found ways to generate their profits based on incomplete information and the financial illiteracy of American consumers.


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