Advisors are split on the fiduciary debate, although many favor it, on paper at least.

Some 37% of respondents to BIC’s financial planning survey say that anyone recommending an investment should be held to a fiduciary standard, while 35% say that’s true only if the advisor charges an ongoing fee for investment advice. However, one-fourth of advisors claim that they already act in their clients’ best interests and think that any additional regulations would be unnecessary.

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