Broker vs. Registered Investment Advisor

Financial services industry has two predominant financial standards for representatives in dealings with clients and disclosure. One is a “suitability standard” which is the most common and requires the least amount of qualifications and thereby professional scrutiny. Another is know as a “fiduciary standard” which requires more accountability, disclosure and generally higher qualification standards. The following video will give you some insight as to the differences between the suitability and fiduciary standards.