Boo. They're pushing this decision out. The fact that there isn't a fiduciary standard for advisers is just simply shocking to me. At least guys in the CFA program have to abide by the ethics and standards of the institute....because they're much more stringent than what our "regulator" asks for.
Quote:
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One of the main objectives of the review is to find out whether trailer fees generate potential conflicts of interest, encouraging financial advisers to recommend mutual funds that pay the adviser the highest trailer fee but that might not necessarily be in the best interest of the client. Industry observers believe the regulator could introduce a fiduciary duty standard for advisers, and/or an outright ban on trailers, which is the chief source of income for advisers in this country.
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http://www.theglobeandmail.com/repor...ticle23279736/
I feel like I might be highjacking this thread. Apologies, carry on. I wonder if there's another more general investment industry thread I should be taking my rants to!