RJ and Makay

A recently released survey of investors finds strong support for applying the same obligation of care to all investment advisors and brokers providing investment advice to clients.

The poll of 1,319 investors was conducted in late August by ORC/Infogroup for several organizations that support such a measure. Among the key findings, 91% of respondents agreed that stockbrokers and investment advisors who provide similar investment advice should also follow the same investor rules.

In addition, 85% of respondents “strongly agreed” and 12% “somewhat agreed” that financial professionals providing investment advice should put the client’s interest ahead of their own, and that any potential conflicts of interest should be disclosed up front.

Putting client interests first is the essence of the fiduciary standard of care, according to the report, and that applies to investment advisors who are regulated under the Investment Advisers Act of 1940 and governed by the Securities and Exchange Commission.