How often are you presented with the possibility that one elegant solution can help solve two major challenges? Maybe in a business school case study, but not often in real life. But thats the position banks and their wealth management programs now find themselves.
The first challenge is the fiduciary issue. This has been looming for a long time, and gained steam recently when SEC Chairwoman Mary Jo White said she supports a fiduciary standard for broker-dealers. This came just a few weeks after President Obama said he supported a Department of Labor proposal to require a fiduciary standard for retirement advice.
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