According to Bert Whitehead, the advice industry is still dominated by structures that support salespeople, not fiduciary advisers, and leaders must step up and adopt higher standards.
Fee-only financial advisers have long held themselves out as being more ethical than commissioned stockbrokers. Fee-only advisers claim to adhere to a fiduciary standard that requires them to act in the best interests of their clients, meaning that they must set aside their personal interests and fully disclose all their fees and any conflicts of interest
