Don't Expect A Unified Fiduciary Standard Before The Third Quarter, SEC Says Hot

Apparently there are so many competing proposals and comment letters out there that it will take at least until July to sort through them all and determine exactly how brokers and other advisors will prove that they're acting on their clients' best interests.

Once again, the main controversy seems to be whether a blanket disclosure that an advisor may actually act selfishly qualifies as living up to the fiduciary standard.

RIAs and others who've lived under the fiduciary model for awhile say no.

Either way, expect a quiet period on this issue through the spring and much of the summer.

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